A bill to amend the Federal Aviation Act of 1958 to permit the continuation of youth fares, to authorize reduced-rate transportation for the elderly, and for other purposes.

Authorizes air carriers to grant reduced rate transportation, under the Federal Aviation Act, to individuals twenty-one or younger, adn sixty-five and older, on a space-available basis.

Prohibits air carriers from reserving any seating capacity on any regularly scheduled flight without receipt of one-fourth the tariff for air transportation. Prohibits the refund of such deposit unless the reservation is cancelled more than twenty-four hours before the scheduled departure of the reserved flight.

Prohibits air carriers from overbooking their flights.