Airline pilot loans

cliffordg90

Hi lads,

I’m just exploring the different routes to getting my ATPL license and the Integrated program looks very insteresting, obviously the money side of things isn’t very attractive.

I know some banks like BBVA and Dutch bank have offered airline pilot loans before but I was wondering does anybody bank in Ireland offer such a loan?

If not, if someone has experience or has gone through it, what would you recommend the best course of action is?

I’ve considered the modular program but I’d prefer to go about the integrated program if at all possible.

Any help appreciated.

Cheers,
Greg

Lustrum

Hi Greg,

In my humble opinion, a modular or integrated course isn't going to make any difference when it comes to job hunting, with the possible exception of going to CTC to try get into Easyjet. So bearing that in mind, I would do whichever is the most cost effective.

Personally, I'd go get a job and start saving as much as you can for a couple of years. Take a loan if/when you need to and go and do your training the modular way - if you can afford to devote all your time to it you'll be done as quick as any integrated course for less money. While you're working, you can start on your PPL and take your time with it and enjoy it.

The lads I fly with at the moment have come from a range of backgrounds - I did it modular, there's lads who were self funded integrated in FTE and Oxford, lads did modular in Dublin and Florida, one chap even did all his training in Poland. We all had different costs, but at the end of the day we're all sitting in the same seat with the same licences

basill

Get a spreadsheet and crunch the numbers taking into account the following:-

- loss of earnings whilst you don't work for 1-2 years whilst training
- potential cost of a type rating at the end of it
- difference in cost between integrated and modular courses
- salary differences between getting into a legacy airline versus low cost or small turbo prop airline
- fact that the minority of cadets actually get any gainful employment once licences are completed irrespective of where you trained

Have you undertaken any research of the industry and looked into salaries and working conditions? Do you have any contacts to get a job? Did you apply for the AL cadet programme? If you were unsuccessful then why and is it going to be possible for you to improve in order to gain employment at an airline in the future? Have you completed any type of online pyscho testing to determine if you will get through selection at the end of your training? Got a class 1 medical?

I wouldn't be going near a bank before I had ensured that I had most of the odds pointing in my favour.

cliffordg90

basill wrote: »

Get a spreadsheet and crunch the numbers taking into account the following:-

- loss of earnings whilst you don't work for 1-2 years whilst training
- potential cost of a type rating at the end of it
- difference in cost between integrated and modular courses
- salary differences between getting into a legacy airline versus low cost or small turbo prop airline
- fact that the minority of cadets actually get any gainful employment once licences are completed irrespective of where you trained

Have you undertaken any research of the industry and looked into salaries and working conditions? Do you have any contacts to get a job? Did you apply for the AL cadet programme? If you were unsuccessful then why and is it going to be possible for you to improve in order to gain employment at an airline in the future? Have you completed any type of online pyscho testing to determine if you will get through selection at the end of your training? Got a class 1 medical?

I wouldn't be going near a bank before I had ensured that I had most of the odds pointing in my favour.

Thank you both for your replies. Firstly, it would depend on what way I would do it when it comes to the loss of earnings. If I was to go about the modular route I would be working while doing (work in an airport business park which helps) so I would be okay in terms of an income while training. On the other end, if I was to go about a self funded integrated program, I would only do this route if the bank offered a holiday repayment scheme where you can delay repayments until you have the job at the end of the training, which some banks have done in the past.

I have a good friend of mine giving me some help who is a current FO with AL so he’s giving me a bit of an insight alright. I’ve applied for the AL cadetship the last 5 years and have passed the psychometric testing every time but have failed at the video interview stage purely due to lack of experience. I am still waiting for a response for this year, haven’t got a phone call but haven’t got a rejection email either. I felt this year I did better in my interviews than previous years so I’m hoping for the best but in terms of the psycho testing no I haven’t got any of that stuff done and haven’t got a class 1 done as of yet as I’m just finished college and only really starting to put my mind to it now.

I was talking to a Dutch pilot who got the full loan and had little or no savings for it, she got the loan from Dutch Bank who offered that holiday repayment scheme and she only started repaying when she actually got a job.

Do ye know of any bank in Ireland that offers that delay in repayments of a loan scheme? Or offers any type of flight training assistance?

Cheers,
Greg