A bill to extend the Aviation Insurance Program for 5 years.

(Conference report filed in House, H. Rept. 97-864)

Amends the Independent Safety Board Act of 1974 to require the President to appoint individuals as members of the National Transportation Safety Board based upon their technical qualifications, professional standing, and demonstrated knowledge in the fields of accident reconstruction, safety engineering, human factors, transportation safety, or transportation regulations. Declares that such amendment does not preclude the reappointment of an individual currently serving on the Board.

Directs the Board to withhold from public disclosure cockpit voice recordings and transcriptions of oral communications by and between flight crew members and ground stations associated with accidents or incidents being investigated. Allows the Board to make public transcribed portions of relevant and pertinent oral communications at the time of its public hearing, not later than 60 days after the incident. Authorizes the Board to refer to cockpit voice recorder information in making safety determinations.

Amends the Federal Aviation Act of 1958 to extend to September 30, 1987, the authority of the Secretary of Transportation to provide war risk aviation insurance and reinsurance.

Eliminates the transfer to the Department of Justice on January 1, 1983, of the authority of the Civil Aeronautics Board to approve certain consolidations, mergers, acquisitions and interlocking relationships relating to interstate and overseas air transportation. Provides for such transfer on January 1, 1985.