The head of the Federal Aviation Administration (FAA), Bryan Bedford, has not disposed of his multimillion-dollar stake in the airline he formerly led, Republic Airways, despite a commitment to do so outlined in his ethics agreement. This revelation has drawn sharp criticism from Senator Maria Cantwell.
In a letter addressed to Bedford, Senator Cantwell pointed out that he promised to divest from Republic within 90 days of his confirmation. However, with over 150 days passing since that deadline, the stakes, valued between $6 million and $30 million, remain unchanged in his financial disclosures.
Recently, Republic Airways merged with another regional airline, Mesa Air Group, leading to a surge in its stock price, which subsequently closed at $19.02 — nearly double what it was prior to the announcement of the merger.
Senator Cantwell emphasized in her letter, Your continued ownership of significant equity in this conflicting asset past the agreed-upon deadline constitutes a clear violation of your ethics agreement. This is unacceptable and necessitates a thorough investigation. While Bedford declined to comment on the matter, a spokesperson for the FAA indicated that he intends to respond directly to the Senator.
The FAA has been under intense scrutiny following multiple incidents and failures in operational safety over the past year, including a tragic collision in January which claimed 67 lives. These incidents have raised alarms about systemic weaknesses within the agency, further exacerbating concerns about Bedford's compliance with ethical standards.
Bedford has previously committed to prioritizing safety and enhancing the air traffic control system after Congress approved a significant funding package for upgrades. The FAA recently appointed a company to oversee the execution of these improvements.
