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

Embraer has finalized the terms of contracts providing for up to $600 million in working capital and export financing, the company revealed late Monday in a notice to securities markets. The Brazilian National Bank of Economic and Social Development (BNDES) has committed to providing half of the financing, up to a value of $300 million, while the balance comes&nbsp;from private and public banks under the condition that the financing plan maintains a 50/50 split between BNDES and the other banks.

 


Embraer said the lines of credit will further reinforce the cash position of the company, guaranteeing funds from the production phase through the moment of product shipment for the export market. &nbsp;

 


An Embraer spokesman told AIN Tuesday that the agreement with BNDES carries certain conditions related to employment at the company, including a commitment not to lay off any employees for a period of two months. He added that the financing deals do not include any provisions calling for Embraer to forfeit an equity position in the company.

 


“This type of operation is exclusively debt and does not alter the shareholding structure of Embraer,” Embraer said in its statement. “The company will continue to evaluate additional forms of financing in order to maintain a long-term indebtedness profile conducive to its business cycle.”&nbsp;

 


The new financing comes as Embraer accelerates a reorganization process that led to the exit of Embraer Commercial Aircraft CEO John Slattery, who accepted the chief executive position at GE Aviation effective September 1. Embraer has replaced Slattery with its commercial aviation division’s chief commercial officer, Arjan Meijer. Citing unnamed sources, Reuters reported Tuesday that four other notable senior Embraer executives will leave the company as well, including chief operations officer Nelson Salgado.

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.

Embraer Wins Major Financing Commitments

Brazilian export bank BNDES and other financial institutions have committed to provide up to $600 million in debt financing.

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

Charles Alcock

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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