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

Mitsubishi Heavy Industries closed on its acquisition of Bombardier’s CRJ program as scheduled on Monday, marking the launch of MHI RJ Aviation Group. Under the terms of the deal, MHI acquires the maintenance, engineering, airworthiness certification support, refurbishment, asset management, marketing, and sales activities for the CRJ Series aircraft, along with the type certificates and related intellectual property rights. The transaction also includes the related services and support network mainly located in&nbsp;Mirabel&nbsp;and&nbsp;Toronto, Canada, and in the U.S., in Bridgeport, West Virginia; and Tucson, Arizona. MHI RJ will continue to distribute CRJ series spare parts from warehouses in&nbsp;Chicago&nbsp;and&nbsp;Frankfurt, Germany.&nbsp;Bombardier will continue to supply components and spare parts and will assemble the remaining 15 CRJ aircraft in the backlog on behalf of MHI until all get delivered sometime in the second half of 2020.

 


Terms of the deal include cash consideration of roughly $550 million, subject to post-closing adjustments and the assumption of liabilities by MHI related to credit and residual value guarantees and lease subsidies amounting to approximately $200 million. Under the agreement, Bombardier’s net beneficial interest in the Regional Aircraft Securitization Program (RASPRO), which carries a value of some $170 million, has transferred to MHI.

 


The acquisition enlarges MHI’s regional aircraft portfolio at a time when it otherwise has shrunk its rate of investment in Mitsubishi Regional Aircraft (MITAC) and shuttered most of the division’s operation in the U.S.

 


Last month, MHI said it would more than halve funding for the SpaceJet regional jet as it reported impairment losses from its planned acquisition of the CRJ program and development costs for the 2019 fiscal year totaling 263.3 billion yen ($2.46 billion), compared with total expenditures of 85.1 billion yen in 2018. This year, it plans to pare SpaceJet development spending from 140.9 billion yen to 60 billion yen as it addresses Covid-19-related pressures throughout the wider enterprise.

 


As part of its retrenchment, MHI suspended development of the 76-seat M100, a program the Japanese company had envisioned as a prime beneficiary of the CRJ acquisition. Meanwhile, MHI has delayed the development of the 88-seat M90 for at least another year, meaning the larger&nbsp;model won’t gain certification until mid-2021 at the earliest.

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.

MHI Closes on Acquisition of Bombardier CRJ Program

The sale of the CRJ program to Mitsubishi Heavy Industries moves ahead amid steep losses at the Japanese company. 

2024 Corporate Aviation Leadership Summit

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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.

Deal to close this year

Bombardier To Grow Manufacturing Capacity with MHICA Buy

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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.

The two NATO allies will purchase seven of the tanker/transport aircraft

Spain and Poland Agree to Buy A330MRTT Tanker Transports

News and developments about aircraft engines, including turbofan, turboprop, turboshaft and piston.

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.

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.

GE Aerospace has tested the GE9X, Leap 1A, Leap 1B, and more with the 747.

GE Aerospace Flies Boeing 747 To Test New Engine Tech

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

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

City officials and a local university are working with manufacturer Electra 

Helsinki Evaluates Hybrid-electric Flight Connections

Platform offers 100 kilogram payload and 300 nm range 

Zuri Prepares to Fly Hybrid-electric Cargo Drone 

Broker says new aircraft production rates and tax changes are key drivers

Jetcraft Bullish on Preowned Business Aircraft Market

Amy Wilder

Aircraft flew Jacksonville to San Diego nonstop

SyberJet SJ30-2 Sets Unofficial Transcontinental Record

Hanneke Weitering

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

News and issues regarding all manner of civil and military rotorcraft and their powerplants, including helicopters, tilt rotors and unmanned air vehicles.

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