US senator says FAA administrator failed to divest airline shares

Reuters12-11

WASHINGTON, Dec 10 (Reuters) - The top Democrat on the Senate Commerce Committee said Wednesday the head of the Federal Aviation Administration has failed to divest his holdings in Republic Airways in violation of his ethics agreement.

Senator Maria Cantwell said FAA Administrator Bryan Bedford -- who previously worked as Republic Airways CEO -- had agreed to divest his holdings within 90 days of confirmation. At the time of his confirmation, Bedford reported holding stock in Republic worth between $6 million and $30 million.

"This is unacceptable and demands a full accounting,” Cantwell said. The FAA said Bedford will respond to directly to Cantwell.

(Reporting by David Shepardson in Washington)

((Email David.Shepardson@thomsonreuters.com 202-579-6093))

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