SECTION 1. Section three of Act Numbered Four thousand two hundred and seventy-two is hereby amended to read as follows:
"SEC. 3. The grantee shall fix just, reasonable and uniform rates for the transportation of passengers and freight, subject to the supervision and approval of the Public Service Commission. Any order of the Public Service Commission made under this section shall be subject to review by the Supreme Court in the same manner as the decisions of said Commission in other cases.
"All aircraft used by the grantee shall be licensed by the Government of the Philippines, and, together with its accessories and equipment, shall be at all times modern, safe and first class; it shall be provided with a radio transmitting set whenever the voyage is in excess of one hour, and, whenever the voyage is in excess of three hours, it shall carry a pilot and an assistant and shall have as many life preservers as there may be passengers.
"The service and equipment of the grantee shall be at all time subject to inspection and supervision by the Department of Public Works and Communications whose decisions shall be binding until revoked or annulled by the courts for excess or abuse of jurisdiction.
"The grantee shall comply with the provisions of Act Numbered Thirty-nine hundred and nine, as amended by Act Numbered Thirty-nine hundred and ninety-six, and the regulations promulgated thereunder from time to time."