Democratic senators press DOT on FAA chief's Republic Airways stake

Investing.com -- Three Democratic U.S. senators asked the Transportation Department on Thursday if Federal Aviation Administration Administrator Bryan Bedford has sold his shares in Republic Airways and whether he will forfeit any gains for not divesting before a required deadline.

Senators Maria Cantwell, Tammy Duckworth, and Ed Markey sent a letter to the Transportation Department questioning Bedford's compliance with ethics agreements. The senators requested information about whether Bedford had completed the sale of his Republic Airways holdings.

In December, Bedford acknowledged he had not yet divested his shares in Republic Airways but stated he would continue to recuse himself from issues that could impact the airline's finances while working to sell his holdings.

Senator Cantwell previously stated that Bedford, who formerly served as CEO of Republic Airways, had violated his ethics agreement by failing to complete the sale of his shares by the October 7 deadline he had agreed to.

In their letter, the senators called on the Transportation Department "to initiate appropriate disciplinary or corrective actions to address Mr. Bedford's noncompliance." They warned that "a lack of accountability in this case would send the message that senior DOT officials can disregard their ethical commitments without consequence."

You May Also Be Interested In

• Boeing workers reject contract, authorize strike
• enVVeno Medical (NVNO) files $100M mixed shelf
• Cytek faces $56M damages award in Beckman Coulter patent case