U.S. Senator Maria Cantwell, the Ranking Member of the Senate Committee on Commerce, Science, and Transportation, has raised concerns regarding Federal Aviation Administration (FAA) Administrator Bryan Bedford’s failure to comply with his ethics agreement. According to financial disclosures made at the time of his nomination, Bedford held between $6 million and $30 million in Republic Airways stock. His ethics agreement required him to divest all equity in Republic Airways within 90 days of his confirmation as FAA Administrator.
Senator Cantwell cited a letter from the Office of Government Ethics (OGE), which notified the committee that Bedford had not fulfilled certain provisions of his ethics agreement concerning his holdings in Republic Airways Holdings, Inc. In her letter to Bedford, Cantwell stated: “On December 8, 2025, the Commerce Committee received a letter from the Office of Government Ethics (OGE) notifying us that you failed to comply with certain provisions of your ethics agreement regarding your holdings in Republic Airways Holdings, Inc. (Republic). 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. This is unacceptable and demands a full accounting.”
It has been more than 150 days since Bedford was confirmed as FAA Administrator. The OGE noted that after confirmation, Bedford attempted to amend his original ethics agreement but was denied because the request did not meet OGE standards. At this same time period, Republic Airways completed a merger with Mesa Air Group on November 25, 2025. Under this merger agreement, existing Republic shareholders now own about 88 percent of the combined company’s common stock. The merger also returned Republic to public trading status and established it as owner of the world’s largest Embraer jet fleet.
Cantwell’s letter highlighted concerns over whether Bedford’s continued holdings may have influenced decision-making or benefited from changes resulting from the merger: “Meanwhile, Republic recently completed a merger with Mesa Air Group (Mesa), which the company announced on November 25, 2025,” she wrote. “Under the merger agreement, Republic stockholders—which apparently still includes you—own approximately 88 percent of the combined company’s common stock. The merger also made Republic a publicly traded company once again, which now owns the world’s largest Embraer jet fleet of 310 E-Jets. The extent to which this merger may increase the value of your shares in Republic—which you were supposed to divest before the merger closed—or otherwise impacted your decision making is also unclear.”
Bedford had previously committed during his confirmation process to provide Congress with transparency and accountability.
Senator Cantwell requested documentation and explanations by December 16 regarding why Bedford did not comply with divestiture requirements; details about any attempts to amend his ethics agreement; records related to communications with OGE or Department of Transportation; actions taken toward divestment; intentions for future divestment; recusals due to conflicts involving Republic; waivers or authorizations related to work involving Republic; and communications with current or former employees regarding recent corporate actions.
The ongoing situation raises questions about compliance with federal ethics rules among senior government officials and oversight responsibilities for those managing potential conflicts involving large personal investments while serving in regulatory roles.
