AP1
“information about API
uae.pilotprotection
The above site appears to be maintained up to date and is unbiased.
Kindly note the column in pink under API.
It states across from plan description :
- “ aircrew protection intl (API) was originally a plan run by Emirates pilots . There now appears to be no current EK pilots involved, either as Directors or decision makers.”
It states across from who operates the plan :
“Sovereign Corporate Services ( operating with paid consultants who are former EK pilots )Mondial Dubai acting as investment & life cover facilitator. There appear to be no EK pilots acting as Directors.”
- It states across from risk rating:
“ as a pure mutual, self - funded plan, risk of reduced payout to the pilot is greater than ‘ insured’ plan.”
-it cites across from plan legal domicile ie any associated legal action:
“the British Virgin Islands.”
- across from does the plan have any Regulatory registration & oversight .
“No LIPS/API currently have nil regulatory oversight.”
- across from what to watch out for:
“It appears there are zero current Emirates pilots acting as Directors of this plan.The scheme is run by Directors who left Emirates some time ago & are now employed elsewhere. Indications are that members have not yet been advised.
According to LIPS / API annual reports investment return on investments has been negative to only 1-2 % for a number of years. Because of this and other factors watch for a possible rate increase. Plan has no insurance regulatory oversight.”
Out of interest the aircrewprotection.org website remains unchanged and still lists ( with photographs ) the API committee.