Airline Safety Rating System Act

Airline Safety Rating System Act - Directs the Secretary of Transportation, within one year after enactment of this resolution, to develop a system of airline safety indicators in order to establish a means of measuring consistently over time information related to air carrier safety.

Requires such indicators to include: (1) unsafe occurrences in aircraft operations; (2) air carrier compliance with safety regulations; (3) deferred maintenance; (4) mechanical problems; (5) maintenance quality and expenditures; (6) pilot training and experience; (7) overall management ability and operation philosophy; (8) labor-management problems; and (9) the financial condition of covered air carriers.

Directs the Secretary, in developing such indicators, to: (1) examine the Department of Transportation's own data bases in light of the necessary requirements, making needed adjustments; (2) devise new data collection requirements; and (3) develop a means of standardizing the data so that meaningful comparisons can be made among different covered air carriers.

Requires the Secretary to use developed indicators to compile data on the operations safety of covered air carriers and provide written information to the public semiannually which will allow passengers to make an informed choice about air travel based on safety factors.