Gregory Polek has spent his entire career in aviation journalism with AIN, starting as a proofreader and assistant to then-managing editor Mary Mahoney in 1995 after serving an internship with&nbsp;New Jersey Monthly&nbsp;magazine and completing his B.A. degree in English/Writing at New Jersey’s William Paterson College. By 1997 Polek accepted a position as an associate editor, covering the regional airline beat for&nbsp;Aviation International News&nbsp;in place of retiring industry veteran Don Anderson. The assignment took Polek across North America and Europe to profile regional airlines varying in size and mission from the likes of floatplane operators Kenmore Air and Chalk’s Ocean Airways to regional jet operators such as SkyWest and American Eagle. Today, in his dual role as Air Transport Editor and International Airshow Editor, Polek writes, edits, and manages AIN’s commercial aviation content while overseeing each of the company’s daily international air show publications in Paris, Farnborough, Singapore, and Dubai. Most recently Polek has assumed oversight of daily coverage of the Helicopter Association International’s annual Heli-Expo convention.

Senior Editor

Gregory Polek

Boeing has decided not to seek government financial assistance under the CARES Act “at this time” after completing a massive $25 billion bond offering to shore up its liquidity during the Covid-19 crisis, the company confirmed Thursday. Structured across seven tranches with multiple maturities ranging from three to 40 years, the new debt will allow Boeing to avoid exchanging government loans for equity in the company, a scenario CEO David Calhoun has said multiple times he did not favor. Boeing also said it will not immediately pursue further funding through capital markets.

 


“The robust demand for the offering reflects strong support for the long-term strength of Boeing and the aviation industry,” said Boeing in a statement. “It is also in part a result of the confidence in the market created by the CARES Act and federal support programs that have been put in place—a testament to the Administration, Congress, and the Federal Reserve.”

 


Before the Senate voted unanimously to pass the $2 trillion CARES Act, Boeing called for a $60 billion injection for itself and its supply chain. At the time, however, it remained unclear whether or not the government would require taking partial ownership of the company as a condition of the support. But once language in the law allowed for the government to take warrants amounting to stock options in companies applying for the aid, Boeing’s efforts turned toward ensuring funding through the private sector.

 


In its first-quarter earnings release, Boeing reported a $1.4 billion loss from operations and a negative cash flow of $4.3 billion during the first quarter and stressed the need to manage near-term liquidity. Speaking with analysts during a subsequent conference call, Calhoun expressed optimism in the company’s ability to raise cash in the short term. Actions taken to mitigate cash burn include its draw-down on a term loan facility; reduction of operating costs and discretionary spending; extension of a share-repurchase moratorium; suspension of dividends “until further notice;” cutting research and development and capital expenditures, and eliminating CEO and chairman pay for the year.&nbsp;

News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

Boeing Passes on CARES Act Funding With $25B Bond

A $25 billion bond offering has ensured enough liquidity to allow Boeing to reject public money.

2024 Corporate Aviation Leadership Summit

Kerry Lynch

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

Next delivery for BACN program slated for 2025

Bombardier's USAF BACN Global Jet Deliveries Reach Eight

Milestone reached two years after the latest version entered service

Bombardier's Challenger 3500 Reaches 100th Delivery

New developments and products in avionics, specifically about aircraft electronics in the cockpit.

Garmin's Autoland feature could save lives if a pilot becomes incapacitated 

Textron Cessna Citation CJ4, CJ3, and M2 Jets Updated to Gen3 with Garmin Autoland

Charles Alcock

News and issues about aviation maintenance, repair and overhaul (MRO), covering all segments of the aviation industry; and modifications for aircraft and engines. Subjects include product support of aircraft, engines and avionics, MRO company mergers, acquisitions, announcements and personnel, Airworthiness Directives, Supplemental Type Certificate approvals and other topics.

Hybrid-electric aircraft will operate in VTOL or STOL modes with range of up to around 544 nm

Manta Turns to China's Shenyang Aviation To Advance VTOL/STOL Aircraft

Sarah Rose

News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA re-authorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.

News and issues concerning general aviation, specifically airplanes and helicopters powered by piston and alternative engines (i.e., non-turbine powered aircraft). Subjects include aircraft, engines, personnel, acquisitions, accidents, safety, security and training.

Fastest single-engine aircraft in Piper’s history gets nods from EASA and other agencies

M700 Fury Racks Up Foreign Certifications

Jessica Reed

News and issues relating to international air transport and cargo carriers, national airlines and regional airlines, including aircraft, engines, personnel, acquisitions, accidents, safety, security and training.

Marks the operator's sixth nomination for the International Travel & Health Insurance Journal (ITIJ) Awards

FAI Rent-a-jet Nominated for ITIJ Air Ambulance Award

Chad Trautvetter

Four-week strike will affect aircraft deliveries in the fourth quarter

Textron Aviation Ships 41 Bizjets in 3Q Despite Strike

Essential news and analysis on the defense aerospace business. Your trusted source for new and ongoing programs and requirements in military aircraft (manned and unmanned), engines, avionics, weapons and associated systems, including ground-based air defense.

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