Air Transportation System Stabilization Board Law and Legal Definition

The air transportation stabilization board is an office of the U.S. Department of Treasury. The board was created for the purpose of assisting U.S. airlines in the wake of the September 11, 2001 attacks. According to 14 CFR 1310.3, the board is authorized to grant federal loan securities to air carriers for which credit is not otherwise available. It also provides for the maintenance of a safe, efficient and viable commercial aviation system in the U.S.