31 CFR § 801.305 - Exception for air carriers.

---
identifier: "/us/cfr/t31/s801.305"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 801.305 - Exception for air carriers."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "801.305"
section_name: "Exception for air carriers."
chapter_name: "OFFICE OF INVESTMENT SECURITY, DEPARTMENT OF THE TREASURY"
part_number: "801"
part_name: "PILOT PROGRAM TO REVIEW CERTAIN TRANSACTIONS INVOLVING FOREIGN PERSONS AND CRITICAL TECHNOLOGIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "50 U.S.C. 4565; Pub. L. 115-232."
regulatory_source: "83 FR 51327, Oct. 11, 2018, unless otherwise noted."
cfr_part: "801"
---


# 801.305 Exception for air carriers.

No investment involving an air carrier, as defined in section 40102(a)(2) of title 49, United States Code, that holds a certificate issued under section 41102 of that title shall be a pilot program covered transaction.