Loiko was born in 1909. In 1928-1937 he served in the ranks of the Red Army. Loiko finished Leningrad Flying School.

From the very beginning of the Patriotic War he was at the front line. He fought at the Leningrad Front, Kalinin Front, Western Front, South-Western Front and the Central Front. In July-August, 1942 Loiko was at the Stalingrad Front as a pilot of the 436^th Fighter Air Regiment.

He rose from the ranks starting as a common pilot and ending up as regiment second in command. By the end of the war Loiko had carried out 150 armed sorties and destroyed 5 enemy planes. Loiko was decorated with several Red Banner Orders, the Order of the Patriotic War of the 1^st class, and medals.