Title I: Aviation Policy Board - Airline Reregulation Act of 1989 - Establishes as an independent Federal agency the Aviation Policy Board which shall regulate the air fares and air routes of U.S. air carriers. Authorizes appropriations.

Title II: Consumer Rights - Requires the Secretary of Transportation to issue regulations which require U.S. air carriers to disclose on each ticket jacket a statement that such ticket holder can obtain the air carrier's on-time performance record by calling its reservation number or the individual's travel agent.

Directs the Secretary to establish a 24-hour toll-free consumer hotline to provide consumer information on air carrier performance records, the rights of consumers and responsibilities of air carriers, and dispute resolution assistance.

Requires the Secretary to issue regulations which will prohibit air carriers from cancelling flights, on the basis of any economic reason, unless such carrier provides adequate notice of cancellation and similar services to its passengers.

Title III: Air Safety - Directs the Secretary to issue regulations which: (1) prohibit air carriers from pairing inexperienced captains and co-pilots; and (2) require such carriers to improve training of cockpit and cabin crew personnel, provide infant safety seats on all aircraft, and take steps to better identify and remedy aging aircraft problems.