In brief
The Administrator of the FAA, Bryan Bedford, is under pressure following claims that he has not yet sold his multimillion-dollar shares in the airline he previously led, contrary to his ethics agreement and promises made during his confirmation process.
The head of the Federal Aviation Administration (FAA), Bryan Bedford, has failed to sell his multimillion-dollar stake in Republic Airways, an airline he previously led, despite pledging to do so as part of his ethics agreement. This lapse has stirred concern among lawmakers, particularly Democratic Senator Maria Cantwell.
In a recent letter addressed to Bedford, Senator Cantwell pointed out that he had committed to divesting from Republic Airways within 90 days of his confirmation, but he is now over 150 days past that deadline. Bedford's financial disclosures show his airline stock could be valued between $6 million and $30 million.
Compounding the issue, Republic Airways recently completed a significant merger with Mesa Air Group, causing a rise in stock value which directly affects Bedford's financial interests as FAA chief. Following this merger, Republic's stock hit $19.02, nearly doubling since the announcement made in April.
Senator Cantwell expressed her concerns directly in the letter, stating, It appears you continue to retain significant equity in this conflicting asset months past the deadline set to fully divest from Republic, which constitutes a clear violation of your ethics agreement. This is unacceptable and demands a full accounting. Bedford has not yet commented on these claims; however, an FAA spokesperson stated he intends to respond to Cantwell.
This controversy comes amidst a backdrop of heightened scrutiny of the FAA, particularly following several troubling incidents and systemic issues within the agency over the past year. Notably, a collision over Washington D.C. in January resulted in 67 fatalities, raising alarms about FAA oversight and air traffic safety.
Bedford has assured the public of his commitment to improving safety and has advocated for upgrading the country’s aging air traffic control system, with Congress recently approving $12.5 billion for this initiative. The agency aims to ensure that such ethical oversights do not undermine public trust as it navigates these critical upgrades.
