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

Iceland’s Wow Air has begun a restructuring exercise that saw it lay off 111 employees on Thursday and lay out plans to reduce its fleet size from 20 to 11 aircraft. The plan calls for Wow to shed all its Airbus A330s and sell four A321s in a transaction it estimates will improve its liquidity position by more than $10 million. The ailing low-fare carrier continues to negotiate a rescue deal with U.S.-based Indigo Partners.

 


The airline said it would implement a new flight schedule in January. The changes will not affect schedules for December or early January.

 


“This is the most difficult day in the history of Wow Air,” said airline founder and CEO Skuli Mogensen. “We have dedicated people who have worked hard to make Wow Air a reality, and it breaks my heart to downsize the company. However, in order to ensure our future and preserve Wow Air in the long run, we unfortunately must take these drastic measures."

 


Following the layoffs, roughly 1,000 full-time employees remain with the airline.

 


On December 5 Wow said it had begun holding due diligence meetings with Indigo Partners in Reykjavik after the sides signed a term sheet a week earlier.&nbsp;Wow characterized the process as progressing, but that subjects of discussion remained, including Wow’s planned network development, vendor contracts including aircraft leases and certain waivers from Wow’s bondholders.&nbsp;&nbsp;

 


Word of Indigo’s involvement in late November came just hours after Icelandair Group called off the proposed acquisition of Wow and a day after the financially strapped carrier characterized new long-term funding as a “necessity for the business.”&nbsp;

News about commercial airlines, including regulations, aircraft orders, safety, acquisitions, and mergers.

Wow Air To Cut Fleet Nearly in Half, Lays Off 111 Staff

The Icelandic low-fare carrier starts a restructuring exercise amid talks of a rescue plan with Indigo Partners. 

2024 Corporate Aviation Leadership Summit

Charles Alcock

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.

News about environmental issues relating to aircraft operations, including noise issues, emissisions, and regulations. See Fuel for biofuel.

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.

Agreement between start-ups could lead to orders for up to 15 aircraft

Skyhop Plans Island Routes With Noemi's Electric Seaplane

Howard Hardee

Airline plans to gradually replace its Embraer E-Jet fleet

A220’s Performance Drives BermudAir’s Fleet Growth

Partners say eVTOLs could accelerate response times in crowded Indian cities

Air India Backs SkyDrive Emergency Medical eVTOL Plans

News and issues relating to the aerospace industry that are related to the science, engineering and business of flight in space involving civil, industrial and military applications, and similar topics related to flight in the atmosphere of the Earth that are not covered more directly by other AINonline subject channels. In other words, both astronautical and aeronautical subjects, except for those aeronautical topics that are specifically covered elsewhere on this website.

Rival Boeing arguably claimed bragging rights at the Farnborough International show

Airbus Balances Shareholder Returns and New Aircraft

New developments at airports including regulations and noise issues; legal disputes; openings, acquisitions and mergers.

Connections to London Heathrow and Manchester airports will start first

Virgin Firms Up eVTOL Air Taxi Alliance with Joby

News and developments about everything that goes into the cabin of an aircraft, from floor coverings to headliners, with a special emphasis on in-flight entertainment, communications and other electronics for passengers. If it is in the cabin of an aircraft, it’s covered here.

More In Airlines

Skyhop Plans Island Routes With Noemi's Electric Seaplane

Agreement between start-ups could lead to orders for up to 15 aircraft

A220’s Performance Drives BermudAir’s Fleet Growth

Airline plans to gradually replace its Embraer E-Jet fleet

Air India Backs SkyDrive Emergency Medical eVTOL Plans

Partners say eVTOLs could accelerate response times in crowded Indian cities

Airbus Balances Shareholder Returns and New Aircraft

Rival Boeing arguably claimed bragging rights at the Farnborough International show

Virgin Firms Up eVTOL Air Taxi Alliance with Joby

Connections to London Heathrow and Manchester airports will start first

ATR Chases New Regional Markets for Twin Turboprops

Iran war and wider geopolitical pressure stall buying decisions

Embraer Racks Up E-Jet Orders at Farnborough

30 firm orders led by Abra

Gulf Air May Buy JetZero’s Blended-wing-body Z4

Japan Airlines also expresses interest at Farnborough Airshow

AIN Products

SUBSCRIPTIONS

RESOURCES

ABOUT AIN