Borrowing for Pilot training course

V

V1Rotate

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Good Evening all

I am trying to finance my pilot training in the future.
My current status is I own a house in Wexford which at its last valuation was €200,000. I borrowed €150,000 August last year.

Does anyone see of any options of getting my bank to finance as much of this as possible or indeed any other suggestions of obtaining such finance.

I anticipate the total costs to be in the region of €75,000-€80,000.

Looking forward to your replies and Thank you all in advance.
I will check back soon.

Best regards
J
 
What do you plan on living on while you do this course, if this is just course costs. For that price I assume it might be abroad. If so it's unlikely bank will give you money. If you have no ties then sell the house and chase the dream..
 
Ceatharlach said:
What do you plan on living on while you do this course, if this is just course costs. For that price I assume it might be abroad. If so it's unlikely bank will give you money. If you have no ties then sell the house and chase the dream..
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He's still approx 20/25 k short after selling, assuming it sells at 200k.
 
V1Rotate said:
Good Evening all

I am trying to finance my pilot training in the future.
My current status is I own a house in Wexford which at its last valuation was €200,000. I borrowed €150,000 August last year.

Does anyone see of any options of getting my bank to finance as much of this as possible or indeed any other suggestions of obtaining such finance.

I anticipate the total costs to be in the region of €75,000-€80,000.

Looking forward to your replies and Thank you all in advance.
I will check back soon.

Best regards
J
Click to expand...

Hi Most recognized JAA ab-initio courses are around 100,000 Euros, for example Oxford, Jerez and Cabair. The airlines seem to have a preference for these. I received my ATPL about 10 years ago from Flight Safety in Florida, but as far as I am aware they have stopped doing the full JAA ATPL course. ( I assume if you have been looking in to this you know all the terminology ). If they are still doing the course, I would recommend them. I dont believe that the banks in the current climate will fund the whole amount, which leaves you with the "self improver route" i.e PPL, then night rating, then IMC rating, then Multi engine rating. If you then go on to get your instructor rating you can at least earn some money while working towards your commercial pilots licence (frozen ATPL).
There is a radio ad I keep hearing at the moment on News talk about some crowd offering a degree and commercial pilots licence combined. Cant remember who is offering this?
Let me know if you have any specific questions about training or flying for an airline?
Good Luck
 
Waterford Institute of Technology has a BSc (Hons) in Airline Transport Operations. This is being run in collaboration with the Pilot Training College,Waterford Regional Airport.

Flyer Magazine is organising a Professional Flight Training Show on Saturday 20th September in the Regency Hotel, Dublin. Various training schools and airlines will have stands at it. The entrance fee is in the region of €15.00.
 
also be aware that this career has a up down cycle every couple of years and with the oil costs at the moment the airlines are cutting backs their routes therefore less pilots needed
 
I have a mate who is a commercial pilot with a well known Irish air line, he qualified in 2001 and it cost him €100,000 to do so. He trained all over the world because it was cheaper, although he got his privite license here. He didn't work while he trained so that accounts for the €100K . When he qualified it was around 9/11 so getting a job was hard because the airline business dropped. even now his money is not great but he says he loves it and hopefully as he gains more experiance the money will improve.
 
DavyJones said:
I have a mate who is a commercial pilot with a well known Irish air line, he qualified in 2001 and it cost him €100,000 to do so. He trained all over the world because it was cheaper, although he got his privite license here. He didn't work while he trained so that accounts for the €100K . When he qualified it was around 9/11 so getting a job was hard because the airline business dropped. even now his money is not great but he says he loves it and hopefully as he gains more experiance the money will improve.
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I have a few mates who are captains in major airlines. They moan a lot about their jobs. But I think its a lot nicer office to be working in.
 
Consider to save on time building!
I built the most requested to CPL hrs in Latvia Migot flight training school www.avioservice.eu. They provide a new aircrafts and charge from 75GBP per hour for solo(fuel, insurances, airfield fees are incl). Cheap acommodations and RyanAir delivery makes this option very possible!
 
My son undertook the course in Waterford Pilot Training College. Qualified since last August as a commercial pilot BUT things don't end there... you must then fork out approximately €30,0000 to get your type-rating. Be aware of that because the school won't tell you until you are already half way through your training. In order to fork out this extra 30,000 euro you must be accepted by an airline and then head off to Amsterdam (Ryanair) or somewhere similar for 6 or 8 weeks training - again at your own expense.

Airlines are not taking on pilots at the moment so people like my son coming out of training schools are likely to end up doing something else for some years until the tide turns. Not very encouraging for these enthusiastic young men and women but then they are not alone. So many with degrees and high qualifications now facing the dole.

Waterford Pilot Training have (had?) some agreement with AIB regarding funding so you should get in touch with them and find the details. As you have a house in Wexford you could easily commute and perhaps take on some flexible part-time work. Having said that there is a lot of study involved and a pass (just a pass mind you) in all exams is 70%. High standards expected.
Good luck with you career.
 
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