Establishes the Commission on the Effects of Deregulation on Air Travel to study and make recommendations concerning the impact of a deregulated airline industry on the Federal Government's goal of promoting development of an air transportation industry that provides quality service to all regions of the country. Requires study in particular of the effectiveness of the essential air service program and rural service alternatives.

Requires the Commission to submit a detailed final report to the Congress and the President. Terminates the Commission following its submission of such report. Authorizes appropriations.