Aviation training specialist CAE on Sept. 10 announced an initiative with banks in Canada, Mexico and Spain to help aspiring pilots finance their ab-initio training.

Successful applicants will be able to access a funding program with one of the participating banks, which have committed to offering competitive rates and expediting loan applications, CAE said. 

“Financing is a major barrier to becoming a pilot,” CAE Civil Aviation Training Solutions group president Nick Leontidis said. “CAE’s partnership with financial institutions will help aspiring pilots finance their studies and make their dreams come true.” 

“Despite the impact of the COVID-19 crisis on the aviation industry, CAE foresees significant demand for new commercial pilots over the next 10 years,” Leontidis added. “Because it takes approximately two years to become a qualified airline pilot, this funding program will ensure that we can meet the demand for pilots when the industry recovers.”  

CAE lists CIBC and Scotiabank in Canada; Scotiabank in Mexico; and CaixaBank in Spain as partners in the initiative. The Montreal-based training provider is in discussions with other financial institutions to expand the initiative to other countries.