Federal Aviation Administration Independent Establishment Act of 1989

Federal Aviation Administration Independent Establishment Act of 1989 - Establishes the Federal Aviation Administration as an independent Federal agency to succeed the Federal Aviation Administration of the Department of Transportation. Provides that the Administrator of the Administration shall be appointed by the President with the advice and consent of the Senate.

Transfers to such independent agency all functions vested in the Federal Aviation Administration currently in the Department of Transportation and all functions vested in such Department which are administered through the Federal Aviation Administration or are related to it.

Requires the Administrator to submit to certain congressional committees a three-year development plan for: (1) air traffic control; (2) aviation standards; (3) airport security; (4) airport and airway development; and (5) research and development.

Establishes the Aviation Trust Fund Account to meet specified obligations incurred by the Administration.

Amends the Internal Revenue Code to terminate the Airport and Airway Trust Fund on October 1, 1993. Transfers all amounts in such Trust Fund to the Aviation Trust Fund Account.

Establishes the Federal Aviation Advisory Committee to advise the Administrator. Terminates such Committee one year after the effective date of this Act.

Amends the Airport and Airway Improvement Act of 1982 to authorize appropriations through FY 1991.

Amends the Inspector General Act of 1978 to include within its purview the independent Federal Aviation Administration.