I can’t really fault BBVA because I think they are pursuing a business opportunity which makes sense for them and it is a service people need. Punters just need to understand where the interest rate risk is carried and what that could mean for them down the line. If the MPL continues to spread, they might want to think about expanding the guarantee options beyond the U.K. too!
Are any of the Canadian carriers offering an MPL type scheme, or thinking about it do you know? As the ICAO hosts they often keep closely aligned, unlike the U.S., where the 1,500 hr rule put paid to any hope of that. The only good thing about that rule is that it has created a temporary shortage in the labour market for the entry level regional airlines. But rather than increase F/O salaries beyond the poverty line, they are offering one-off hiring bonuses instead. That way, once the shortage is overcome, they won’t keep having to pay a reasonable wage.
