New funding solution launched for pilot training with CTC Aviation
‘Proflight’ loans, provided by Secure Trust Bank, a retail and commercial bank based in the United Kingdom, are a secured loan product now available through ATPL Finance Ltd.
The new loan offers aspiring pilots secured funding for loan amounts ranging from £25,001 to £125,000, providing the potential to fund not only airline pilot career training, but also type-rating training should such funding be required once CTC Aviation has secured airline placement for the successful graduate pilot.
By providing a 2-year repayment holiday, Proflight loans enable aspiring pilots to complete their training, secure a position as a co-pilot and start earning a salary before they need to make any repayments. Applicants can expect a swift application process, receiving a decision in principle within 48 hours and full confirmation within approximately 6 weeks. The loans must be guaranteed by a parent or equivalent legal guardian and are secured by a second charge over the guarantor’s property which must be in England or Wales.
It should be noted that all Proflight loan applications to Secure Trust Bank, will need to be fully assessed and meet the Bank’s lending criteria.
Applicants to CTC Aviation looking to secure funding to support their training now have the option to apply for a range of both secured and unsecured loans from several banks, designed to suit a range of circumstances and routes to the flight deck.
Earlier this month, 226 CTC Aviation pilots graduated at the company’s annual graduation ceremony. 75% of those graduates had already been placed with one of CTC Aviation’s Airline Partners such as easyJet, British Airways, Flybe, Monarch Airlines, Qatar Airways, Thomas Cook Airlines and Ryanair. Those who had more recently completed their training are expected to be placed within 3-6 months of graduating. The CTC WINGS ATPL Integrated or 'whitetail' route accepts applications all year round and courses start monthly with training taking place at the company’s Crew Training Centres in the United Kingdom and either New Zealand or the United States.