Loening was born in Bremen, in what was then Imperial Germany, on September 12, 1888, while his American-born father was stationed there as U.S. Consul.

He graduated from Columbia University in New York City, where he was awarded the first-ever degree in Aeronautical Engineering.

His notoriety increasing in 1927, Loening dated Elizabeth Nast, a Vogue model twenty years his junior with an affinity for flying.

In 1965 Loening was inducted into the International Air & Space Hall of Fame for his innovation in seaplane technology and production.

He is celebrated along with the other inductees in the Hall of Fame's portrait gallery within the San Diego Air and Space Museum.