[Weekly Compilation of Presidential Documents Volume 43, Number 52 (Monday, December 31, 2007)]
[Pages 1640-1641]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Memorandum on Provision of Aviation Insurance Coverage for Commercial 
Air Carrier Service in Domestic and International Operations

December 27, 2007

Memorandum for the Secretary of Transportation

Subject: Provision of Aviation Insurance Coverage for Commercial Air 
Carrier Service in Domestic and International Operations

    By the authority vested in me as President by the Constitution and 
laws of the United States including 49 U.S.C. 44302, et seq., I hereby:

[[Page 1641]]

    1. Determine that continuation of U.S.-flag commercial air service 
is necessary in the interest of air commerce, national security, and the 
foreign policy of the United States.
    2. Approve provision by the Secretary of Transportation (Secretary) 
of insurance or reinsurance to U.S.-flag air carriers against loss or 
damage arising out of any risk from the operation of an aircraft in the 
manner and to the extent provided in chapter 443 of 49 U.S.C.:
 (a)         until August 31, 2008;
 (b)         after August 31, 2008, but no later than December 31, 2008, 
            when the Secretary determines that such insurance or 
            reinsurance cannot be obtained on reasonable terms and 
            conditions from any company authorized to conduct an 
            insurance business in a State of the United States; and
    3. Delegate to the Secretary the authority, vested in me by 49 
U.S.C. 44306(c), to extend this determination for additional periods 
beyond August 31, 2008, but no later than December 31, 2008, when the 
Secretary finds that the continued operation of aircraft to be insured 
or reinsured is necessary in the interest of air commerce or the 
national security, or to carry out the foreign policy of the United 
States Government.
    You are directed to bring this determination immediately to the 
attention of all air carriers within the meaning of 49 U.S.C. 40102(2), 
and to arrange for its publication in the Federal Register.
                                                George W. Bush

Note: An original was not available for verification of the content of 
this memorandum.