15. Jun 2022
European Flight Academy: New and innovative financing options for the training at Lufthansa Group’s flight school
- External financing providers Brain Capital and Albatros ready to offer initial financing
- Student pilots can choose from a variety of options to finance their training
- The European Flight Academy will commence training operations in July: recruiting process for further courses already underway
Lufthansa Aviation Training GmbH, 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 as external partners for the financing of the training costs.
For many young people, becoming a pilot of a commercial aircraft is a professional goal that they pursue with great commitment. Not all of them, however, are able to finance the complex and cost-intensive pilot training out of pocket. To ensure that the dream job does not have to remain a dream, the following two financing options are now available – in addition to funding the training privately – for the two-year training at the European Flight Academy:
For many young people, becoming a pilot of a commercial aircraft is a professional goal that they pursue with great commitment. Not all of them, however, are able to finance the complex and cost-intensive pilot training out of pocket. To ensure that the dream job does not have to remain a dream, the following two financing options are now available – in addition to funding the training privately – for the two-year training at the European Flight Academy:
Brain Capital’s education fund
Brain Capital GmbH has developed a new, innovative financing model that will provide all suitable applicants with access to the EFA flight school. A base capital of Euro 30,000 is required, which the applicants have to raise themselves. Subsequently, Brain Capital will assume the remaining training costs of currently Euro 75,000. In the years following, the student pilots will pay back a fixed percentage of their income over twelve years only once they reach a minimum annual income of Euro 25,000.
The specific, individual repayment amount is contingent upon the income level – the higher the salary, the higher the repayment amount will be, and vice versa (principle of solidarity).
Albatros’ training loan
With its many years of experience in financing and capital investments, 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 facts and different sample calculations can be found on the website of the European Flight Academy:
https://www.european-flight-academy.com/en/financing
Matthias Spohr, CEO of Lufthansa Aviation Training GmbH
“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. I am very pleased to be able to present the last outstanding major component of the European Flight Academy’s new concept: 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!”
Restart of the European Flight Academy
Due to the pandemic, the 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 and secures young professionals as well as the highest standards of quality for the Group airlines in the long term.
The advantages of the European Flight Academy training include the unique prospects of making it into the cockpit of a Lufthansa Group airline: In the framework of a campus model, graduates will be provided support in applying for new cockpit jobs with Lufthansa Group after completion of the training; they will also be granted priority access to these jobs vis-à-vis applicants with other training backgrounds. What is more: Because of the recognized high quality of the training, they will also be highly sought-after by other airlines.
In the future, the theoretical part of the roughly 24-month training will take place in Bremen/DE or Zurich/CH; the locations in Goodyear/USA, Grenchen/CH, and Rostock-Laage/DE, respectively, are intended for the practical training. In order to safeguard the highest standards of quality and safety, the practical training in Europe will be performed in a modern, standardized training fleet with aircraft by the manufacturer Diamond. In the USA, a modern fleet of Cirrus SR20 training aircraft will continue to be used.
The number of training spots available at the European Flight Academy will be independent of demand as well as limited. Additionally, the training is set up as a self-pay model, as is internationally customary. The training costs in Germany currently amount to Euro 105,000 and will be invoiced step by step in line with the training progress.
About Lufthansa Aviation Training
With its competencies in training and further educating cockpit and cabin crews at ten training locations worldwide, Lufthansa Aviation Training GmbH (LAT) is among the world leaders in the field of flight training. The company is headquartered at Munich Airport and employs around 700 people at all its locations. Its client portfolio includes more than 250 nationally and internationally renowned airlines, among them the Lufthansa Group airlines. Lufthansa Aviation Training is equipped with close to 200 training devices. Among them are training aircraft for the pilot training, flight simulators for all common types of aircraft for the pilot training, as well as emergency and service mock-ups for the basic and further training of cabin crews.
Lufthansa Aviation Training combines the flight schools of Lufthansa Group under the brand European Flight Academy (EFA).
www.lufthansa-aviation-training.com
www.european-flight-academy.com.
Press contact
Lufthansa Aviation Training GmbH
Dirk Sturny
Head of Marketing & Corporate Communications
Suedallee 15
85356 Munich Airport, Germany
Phone: +49 89 977 6447
E-mail: dirk.sturny@lat.dlh.de
Website: www.lufthansa-aviation-training.com
Media Center: www.lufthansa-aviation-training.com/mediacenter
