A bill to amend the Federal Aviation Act of 1958 to authorize reduced fare transportation on a space-available basis for elderly persons and handicapped persons.

Amends the Federal Aviation Act of 1958 to authorize reduced air fares on a space-available basis for persons 60 years of age or older and for handicapped individuals and their attendants. Directs the Civil Aeronautics Board to conduct a study and to report to the Congress on the feasibility and economic impact on air carriers of providing such reduced rate transportation for persons 21 years of age or younger.

Authorizes air carriers operating within the State of California pursuant to authority granted by the State public utilities commission or within the State of Florida pursuant to authority granted by the Public Service Commission and which operate aircraft capable of carrying 30 or more persons to enter into agreements with other air carriers to establish joint fares, rates and services. Specifies various methods for determining the lowest such joint fare or rate which may be established.