President Donald Trump’s FAA appointee has been accused of failing to fulfill his pledge to sell off shares in a regional carrier where he once served as CEO and board chair.
The Office of Government Ethics notified lawmakers this week that FAA Administrator Bryan Bedford had not sold his shares in Republic Airways.
The letter, sent to Sen. Ted Cruz (R-TX), who’s leading the Senate transportation panel, said Bedford “failed to timely comply with certain terms of the ethics agreement he signed” during his confirmation process, The New York Times reported Wednesday. Sen. Maria Cantwell (D-WA), top Democrat on the committee, made the letter public Tuesday evening.
Cantwell subsequently wrote to Bedford, requesting a full accounting for his failure to liquidate his stake within the required 90-day window, as the Oct. 7 deadline has long passed.
“Based on this letter, 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,” she wrote in her letter to Bedford.
Cantwell set a Dec. 16 deadline for his response detailing which shares he’s sold, divestment completion timelines, and Republic matters he’s recused himself from.
An FAA representative indicated Bedford would respond only to Cantwell.
Bedford pledged to sell aviation and technology holdings “as soon as practicable but not later than 90 days after my confirmation.” He reportedly held $6 million to $30 million in Republic stock. After his confirmation, he sought an extension, but ethics officials declined.
Cantwell noted Bedford’s holdings may have grown, as Republic Airways recently merged with Mesa Air Group, becoming publicly traded.
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