Senator says FAA administrator failed to sell multimillion-dollar airline stake as promised
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FILE - Federal Aviation Administration administrator Bryan Bedford looks on as Transportation Secretary Sean Duffy speaks during a news conference on new drone regulations, Aug. 5, 2025, at the Department of Transportation in Washington. Photo by Julia Demaree Nikhinson /APArticle contentThe head of the Federal Aviation Administration has not sold off his multimillion-dollar stake in the airline he led since 1999 despite a promise to do so as part of his ethics agreement, according to a Democratic senator.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentIn a letter to Bryan Bedford this week, Sen. Maria Cantwell said he vowed to sell all his shares in Republic Airways within 90 of his confirmation but 150 days have now passed. In Bedford’s financial disclosures, he estimated that his Republic stock was worth somewhere between $6 million and $30 million.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentRepublic completed a merger last month with another major regional airline, Mesa Air Group. Republic’s stock closed Thursday at $19.02, nearly double what it was before the deal was announced in April.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“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,” Cantwell said in the letter.Article contentBedford declined a request for comment, and an FAA spokesperson said he plans to respond directly to Cantwell.Article contentThe agency has been in the spotlight since January, when an airliner collided with an Army helicopter over Washington, D.C., killing 67 people. The investigation has already highlighted shortcomings at the FAA, which failed to recognize an alarming number of close calls around Reagan National Airport in the years beforehand.Article contentThen, in the spring, technical problems at the center that directs planes into New Jersey’s Newark Liberty International Airport highlighted a fragile and outdated system relied on by air traffic controllers.Article contentAnd in the fall, a longstanding shortage of controllers led to thousands of flight cancellations and delays during the longest government shutdown ever as more controllers missed work while going without a paycheck.Article contentBedford has pledged to prioritize safety and upgrade the nation’s outdated air traffic control system. Congress approved $12.5 billion for that project, and last week the FAA picked the company that will oversee the work.Article contentTrending CRA penalized taxpayer for repeated failure to report income Personal Finance Who is Mark Wiseman? The career of the man expected to be Canada’s new U.S. ambassador Finance This generation of Canadians is rapidly increasing its wealth and may soon unseat the boomers Wealth U.S. trade deficit unexpectedly shrinks to smallest since 2020 Economy The best mortgage rates in Canada right now Real Estate Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. CRA penalized taxpayer for repeated failure to report income Personal Finance Who is Mark Wiseman? The career of the man expected to be Canada’s new U.S. ambassador Finance This generation of Canadians is rapidly increasing its wealth and may soon unseat the boomers Wealth U.S. trade deficit unexpectedly shrinks to smallest since 2020 Economy The best mortgage rates in Canada right now Real Estate