21 June 2022
How do you find the money to pay for pilot training? Lufthansa Aviation Training, a wholly-owned subsidiary of Lufthansa Group and operator of the European Flight Academy (EFA) flight school, now offers its student pilots two financial service providers: Brain Capital GmbH and Albatros Financial Solutions GmbH.
Brain Capital GmbH has developed a new financing model that will provide all suitable applicants with access to the EFA flight school. A base capital of €30,000 euro is required, which applicants have to raise themselves.
Brain Capital will assume the remaining training costs of currently €75,000. The student pilots will pay back a fixed percentage of their income over twelve years once they reach a minimum annual income of €25,000.
Albatros Financial Solutions GmbH arranges traditional financing for the pilot training at attractive terms. Eligible applicants can finance between Euro 25,000 and Euro 100,000 of the training costs at a fixed interest rate and repay the loan within ten years. The repayment can be suspended for up to 24 months.
Further details on the education-fund and training-loan options as well all sample calculations can be at European Flight Academy.
Matthias Spohr, CEO of Lufthansa Aviation Training, said, “Almost two months ago we announced that we would get going this summer and welcome new student pilots at our European Flight Academy locations. We have now been able to conclude the talks regarding the financing options.
“In Brain Capital and Albatros Financial Solutions we have found two experienced external financing providers who are able to offer our student pilots not only the traditional training loan, but also the innovative model of the education fund.
“This means in essence that all suitable candidates will now be able to attend our flight school – financing the training costs is not an insurmountable obstacle!”
Due to the pandemic, pilot training had to be terminated at all European Flight Academy locations in March 2020. With its relaunch this summer, Lufthansa Group continues to show its commitment to its own pilot training.