Training to become a pilot is hard work; it requires intensive training and ongoing commitment. However, initially financing flying training can often seem like the greatest challenge – and we firmly believe this shouldn’t be the case.
Therefore we have joined forces with Airline Placement Limited (APL), a subsidiary of CTC Aviation, and together we’ve designed a unique sponsorship scheme that will make flying feasible for all.
This is where the Future Pilot Programme really comes into its own. We have structured the programme so that APL will sponsor your flight training, jet orientation course and type rating.
Obviously this represents a significant investment by APL and you will therefore be required to deposit a security bond of £84,000 with them. Because this is a sponsored scheme, this entire £84,000 security bond will be repaid to you, tax-free, if you successfully complete all training, and join British Airways as a first officer. The security bond is repaid in equal monthly instalments over your first seven years of employment, all in addition to your remuneration package.
There are a number of ways you can raise the funds to deposit this security bond, for example from your own finances, borrowing from family, or securing a loan. If you’re not in a position to secure an asset-based loan then you could be eligible for our British Airways guaranteed loan scheme. If this is the case, our partner bank will run a thorough check of your credit history. Should this come back clear and you pass the Future Pilot Programme selection process, British Airways could act as your loan guarantor. You will then be able to borrow the money from our partner bank in order to deposit the required security bond with APL. On any loan there is obviously a percentage of interest charged by the lender, but the British Airways guaranteed loan scheme specifically offers a 24-month holiday period before any loan repayments commence. It should be noted however, that it might be cheaper to secure an asset-based loan either through our partner bank or another lender.
In addition to depositing the security bond with APL, you will be required to pay for some aspects of your training towards becoming a first officer. As each of the three approved FTOs offer different courses, please refer to their websites to learn about the additional costs of taking part in this programme. Please also think very carefully about exactly what is, and is not, included in the training course offered by each FTO. Please also think about where the majority of your training will take place, and setting aside some funds on which to live while you are undergoing training.
If you need any further information about obtaining a loan then we recommend you talk to a financial advisor. While we are happy to make you aware of the British Airways guaranteed loan scheme, we specifically cannot offer any financial advice, nor can APL, our partner bank or the FTO you are interested in training at.