Airline Competition Equity Act of 1990

Airline Competition Equity Act of 1990 - Prohibits the purchase, sale, lease, or transfer of slots at airports on or after July 12, 1990, except that: (1) one slot may be exchanged for another if there is no other consideration associated with the exchange; (2) slots may be transferred on or after such date as part of an overall or substantial transfer of assets of an air carrier; (3) slots at high density traffic airports may be transferred by a carrier that prior to July 12, 1990, filed for bankruptcy if the transfer is necessary to effectuate the sale of assets; and (4) slot leases entered into before July 12, 1990, may continue or be extended until 18 months after enactment of this Act.

Directs the Administrator of the Federal Aviation Administration to establish by rulemaking a pool of slots for new entrant air carriers at high density traffic airports. Terminates such rule (as well as the existing "buy-sell rule") 18 months after enactment of this Act. Requires the Administrator to provide a specified certification to the Congress if after such rule ceases to be effective the Secretary of Transportation or the Administrator decides to issue a new rule for the allocation of such slots.

Requires the Secretary to: (1) study the extent to which shuttle service provided by air carriers between LaGuardia National Airport to Boston and to Washington National Airport is of public interest to the northeastern United States; and (2) report to the Congress within 12 months after enactment of this Act on the results of such study, including recommendations.