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

The European Commission on Friday cleared the <a href="http://ainonline.com/aviation-news/ain-air-transport-perspective/2014-08-08/etihad-acquire-49-percent-share-alitalia">merger of Alitalia and Etihad Airways</a> under EU Regulation 139/2004, allowing the airlines to proceed with the strategic partnership they announced in August. Valued at €1.76 billion ($2.35 billion), the deal will see Etihad take a 49-percent stake in Alitalia with a view to restoring the troubled flag carrier to profitability by 2017.

 


Following the completion of its review, the EC confirmed that the partnership complies with the European regulations on competition. In line with previous cases, the airlines undertook commitments aimed at facilitating the entry of new airlines on the Rome to Belgrade route. The airlines continue to work together with a view to completing the transaction before the end of the year, they said in a joint statement.

 


&nbsp;“We are delighted to be able to move forward with this process and look forward to a positive outcome and the final conclusion of our transaction with Alitalia,” said Etihad Airways president and CEO James Hogan. “An equity investment in Alitalia will be beneficial not only for the both airlines, but, more importantly, it will give more choice and broader travel opportunities to business and leisure travelers into and out of Italy.”

 


Under the agreement, Etihad will invest €560 million ($750 million), including €387.5 million for the equity stake in Alitalia, €112.5 million to acquire a 75-percent interest in the airline’s frequent-flier program and €60 million to acquire five slot pairs at London Heathrow Airport, which plans to lease back “at arm’s length” to&nbsp;Alitalia.

 


Existing Alitalia shareholders will invest another €300 million in the carrier. Financial institutions and bank shareholders have agreed to restructure €598 million in short- and medium-term debt and extend Alitalia a €300 million credit line.

 


“This is an excellent outcome for Alitalia,” said Alitalia CEO Gabriele del Torchio. “This investment will provide financial stability and a foundation for impressive long-term growth for the company and for the travel and tourism industry in Italy, in which Alitalia is a fundamental player.”

 


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EC Approves Etihad-Alitalia Partnership

Airlines plan to complete deal by year-end

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