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Abolition of the Air Transportation Office. - The Air Transportation Office (ATO) created under Republic Act No. 776, a sectoral office of the Department of Transportation and Communications (DOTC), is hereby abolished.
All powers, duties and rights vested by law and exercised by the AT0 is hereby transferred to the Authority.
All assets, real and personal properties, funds and revenues owned by or vested in the different offices of the AT0 are transferred to the Authority. All contracts, records and documents relating to the operations of the abolished agency and its offices and branches are likewise transferred to the Authority. Any real property owned by the national government or government-owned corporation or authority which is being used and utilized as office or facility by the AT0 shall be transferred and titled in favor of the Authority.
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