The head of the Federal Aviation Administration (FAA), Bryan Bedford, has come under fire for not divesting his multimillion-dollar stake in Republic Airways despite an earlier promise made during his confirmation process. This revelation surfaced in a recent letter from Senator Maria Cantwell, who noted that Bedford had committed to selling his shares within 90 days of taking office, yet 150 days have now passed.
In the letter, Senator Cantwell expressed concern about Bedford retaining significant equity in what she described as a 'conflicting asset,' emphasizing that this situation constitutes a clear violation of his ethics agreement. Bedford's financial disclosures estimated his stakes in Republic Airways to be valued between $6 million and $30 million.
Compounding the issue, Republic Airways recently completed a merger with Mesa Air Group, leading to a surge in its stock price, which closed at $19.02 following the announcement in April. Such developments raise further ethical questions about potential conflicts of interest for Bedford.
As criticisms mount, Bedford has declined to comment publicly, while an FAA spokesperson indicated that he would respond directly to Senator Cantwell. The FAA has faced numerous controversies this year, including safety failures highlighted by a fatal collision over Washington, D.C., involving an airliner and an Army helicopter, and ongoing concerns about the aging air traffic control system.
With $12.5 billion recently allocated by Congress to upgrade air traffic control systems, Bedford's ability to navigate ethical transparency while overseeing such essential improvements is now more critical than ever.
