I hadn't thought of that, I wonder how it'd work (securing the loan).
Either way, if they do start to do it then it will still be a huge step forward for those who cannot afford training otherwise. 2 reasons:
1 In effect it'd be a form of sponsorship, allowing selection based on suitability rather than finances
, with loan repayments to BBVA replacing the reduction in early salary.
2 As important would be the fact that by underwriting the loan the airline is shouldering the financial risk for the trainee - which is a huge change, even compared to the old 'tagged' schemes
.
Those cadets who were dropped at the end of training by the airline (as numbers were in 2007ish) would not have such vast debt hanging over them alongside the prospect of no job.
- is there expected to be a big increase in capacity with BA acquiring the 78 & 380? Wouldn't they be replacement for retiring 744s? (ie not necessarily an indicator in itself of more pilots required). I'm not involved with BA though so wouldn't know.
- that's good news re OAA underwriting the conversion to CPL/IR too
All good stuff.