To amend title 49, United States Code, to preserve nonstop air service to and from Ronald Reagan Washington National Airport for certain communities in cases of airline bankruptcy.

Amends Federal aviation law with respect to communities which have lost or will otherwise lose nonstop air service to and from Ronald Reagan Washington National Airport because an air carrier that was awarded a beyond-perimeter slot exemption (from the prohibition against nonstop flights between Ronald Reagan Washington National Airport and another airport more than 1,250 miles away) has filed for bankruptcy, had its assets acquired by another air carrier, and has returned the slot exemption to the Secretary of Transportation. Authorizes another air carrier acquiring such an air carrier to use no more than two of that air carrier's slots (if from a large hub airport) at Ronald Reagan Washington National Airport between the hours of 7: 00 a.m. and 9: 59 p.m. to provide nonstop air service to and from such community. Declares that such requirements shall not apply if the Secretary awards the returned slot exemption in a fashion that preserves the nonstop service to and from Ronald Reagan Washington National Airport for the community.