mandipcreative,
If the problem is calendar-related, my first thought would be that it is related to the Exchange bug in the Microsoft Knowledge-Base link I posted earlier. If you don't think you have an Exchange account, perhaps one of your calendars is using it in the background without you knowing it.
In my case, turning off all calendars would definitely work, however, I do need to have a working calendar - at least the ability to view the calendar on my phone. I tried turning airplane mode on/off, but it only worked as a temporary measure, not a permanent fix. The only way I was able to stop the looping was to delete the Exchange account and recreate it. I think I did a hard reset in-between, as well, but don't know if that was related. I'm also not 100% sure that turning airplane mode on & off wouldn't work for other people. Maybe your phone & setup is different enough from mine that it works for you.
I also turned off the calendar entries in all accounts (including icloud) except for my Exchange account, since that is the only calendar I want to use. Maybe there is some strange interaction with icloud, not sure. I didn't spend much time debugging that angle.
Anyway, now I am able to have my Exchange calendar enabled, and view it without having the looping/battery drain problem. As long as I don't create/accept/decline/modify a calendar entry on my phone, which will start the looping again (until Apple releases the fix for the problem).
I'm about done with this issue until I see that Apple has a new release. Good luck, folks!