New Zealand’s flag carrier, Air New Zealand which operating more than 3,000 flights every week, has launched a sponsored abintio pilot cadetship training program. The Mangōpare Air New Zealand Pilot Cadetship is an accelerated 14 month international training program (12 months of flight training and 2 months of type rating on the ATR72-600 aircraft).
Please see below extract in term’s of funding:
“The Mangōpare Air New Zealand Pilot Cadetship is designed in such a way so that living expenses are covered. Cadets will also receive a stipend to assist in covering household expenses such as groceries, toiletries and other personal items.
Air New Zealand will directly fund the large majority of Cadetship costs subject to conditions, with the cadets required to fund approximately 20-30%. To enable participation and reduce financial barriers, Air New Zealand is also facilitating cadets’ access to bank funding for this 20-30%, which isn’t readily available currently in the market. This contribution reflects Air New Zealand’s commitment to the future success of the Mangōpare Air New Zealand Pilot Cadetship and its interest in cadets successfully completing the training and becoming valued Air New Zealand pilots. To protect Air New Zealand’s significant investment in the Cadetship, cadets who do not accept an offer of Air New Zealand employment after successfully completing the Cadetship, or who leave Air New Zealand after less than 5 years, will be required to repay a portion of the Air New Zealand funded costs.
The size of the bank loan required will be $53,500, representing approximately 20-30% of the Cadetship costs. Cadets who take up the loan arrangement will pay interest on this loan they enter into with the bank. This interest rate remains in negotiation between Air New Zealand and the bank but will benefit from an Air New Zealand guarantee. It is therefore expected to be lower than typical market personal lending rates.”
The flight training will be conducted in Arizona, United States while the type rating will be done in Dubai, United Arab Emirates.
The airline is hoping to find a long-term domestic training provider in the meantime and is taking expressions of interest.
Source: Air New Zealand
