WASHINGTON – Three Democratic senators are calling for a federal investigation into whether the administrator of the Federal Aviation Administration broke his ethics commitments by postponing the sale of airline company shares following his tenure as Republic Airways’ chief executive.
On Thursday, Senators Maria Cantwell, Tammy Duckworth, and Ed Markey requested an inquiry into whether FAA Administrator Bryan Bedford provided misleading information to Congress about his failure to completely sell his substantial ownership interest in Republic by the October 7 deadline specified in his ethics commitment.
The lawmakers contended that “Bedford intentionally held on to his shares until the airline completed a lucrative merger, likely significantly boosting the value of his holdings.”
Bedford finalized the sale of his stock holdings in February. The FAA indicated it would provide a direct response to the senators’ concerns. When he was confirmed for his position, Bedford disclosed Republic Airways stock valued between $6 million and $30 million. Republic Airways finalized its merger with Mesa Air Group on November 25.
