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Turning Your Pilot Dreams into Reality: Funding Pilot Training Made Easy

  • mpandurangi
  • Sep 28, 2024
  • 4 min read

Updated: Nov 11, 2024



Aviation is a dream for many youngsters in India. While this dream was limited to only people with deep pockets many years ago, in recent years, this field has opened up for all strata of society. Ordinary people like you and me can now afford to dream BIG.

As I often tell my clients “Investing is dull in the everyday, but magic in a few years”

I am not here to give you a magic potion for quick finances. I am here to tell you how consistent investing can help fund your flight training.


Flight training in India/ abroad can cost approximately INR 50 lakhs, covering around 200 hours of flying, ground school, and exams. If you are 16-18 years of age and planning to do your flight training in 5-7 years, this article is best suited for you.


There are mainly 3 ways you can fund your training:

1.      Borrow from family/ friends

2.      Fully fund your flight training

3.      Partially fund your flight training


For this article, we will be discussing points 2 and 3.


SAVING FOR YOUR GOAL…


  • Amount to be raised: 50 lakhs

  No of years : 7



After taking a conservative expected rate of return, a monthly SIP of Rs 38,263 for a period of 7 years + in a diversified equity fund can help achieve your target.

 

 

  •  Amount to be raised: 25 lakhs

         No of years: 7



 

After taking a conservative expected rate of return, a monthly SIP of Rs 19,131 for a period of 7 years + in a diversified equity fund can help achieve your target.

*The SIP Calculator is linked below.

 

EARNING TO SAVE FOR YOUR GOAL…

 

The best way to earn your way to your goal is to get a part-time/ full-time job that can pay for your savings. Even though there are many jobs for an 18-year-old, I suggest taking up an aviation-based job to understand the ethos of the aviation world.


1.      Cabin crew:

  • Requirements: 10+2 education, good communication skills, and a pleasing personality. Many airlines require a minimum age of 18–21.

  • Role: Responsible for ensuring passenger safety, providing service, and managing emergencies onboard.

  • Skills Needed: Excellent communication, first-aid knowledge, and strong customer service orientation.

  • Airlines/Companies: Many airlines like SpiceJet, Air India, and IndiGo hire young people as cabin crew members.

 

2.      Asst.Flight Dispatcher:

  • Requirements: 10+2 education (Physics and Math), with basic knowledge of flight dispatch or on-the-job training.

  • Role: Assisting licensed flight dispatchers in preparing flight plans, weather reports, and coordinating with crew.

  • Skills Needed: Attention to detail, problem-solving, and basic aviation knowledge.

  • Airlines/Companies: Airlines or third-party dispatch service providers.

 

3.      Ground Staff (Customer Service Agent, Ramp Agent):

  • Requirements: 10+2 (Higher Secondary) education, good communication skills, basic computer knowledge.

  • Role: Ground staff handle various tasks like passenger check-ins, boarding assistance, baggage handling, and ramp duties.

  • Skills Needed: Strong customer service skills, teamwork, and ability to work in shifts.

  • Airlines/Companies: Airports or airlines like IndiGo, Air India and others often hire ground staff.

 

4.      Aviation Influencer:

  • This option works for people of all ages as there is no age requirement and the market for influencers is huge.

 

OTHER WAYS TO RAISE BALANCE FUNDS…


Loans: Leading banks like SBI and HDFC offer educational loans specifically designed for professional courses, including pilot training. These loans often cover tuition fees, examination fees, and other related expenses.


Interest rates: (depending on your application) 11-13%

Tax Benefit: The interest amount paid during the financial year is allowable as a deduction from taxable income under section 80E.

Repayment timeline: 10-15 years

Moratorium period: 1-2 years (extension on a case-by-case basis)

Specials: Some banks might provide a lower interest rate for girl candidates.

 

Scholarships: Some prominent scholarships that came up in our research are listed below


IGRUA-

  1. Eligibility: SC/OBC/EBC/DNT

  2. Process: Entrance examination

  3. Coverage: entire cost of training, accommodation and other costs.


Maverick Aviation -

  1. Eligibility: Open to all

  2. Process: Competence-based examination

  3. Coverage: Fee waiver for ground training.


TATA Trusts-

  1. Eligibility: Open to all

  2. Process: Interview

  3. Coverage: Unknown


Udaan Pari-

  1. Eligibility: For girls

  2. Process: unknown

  3. Coverage: unknown

 

 

POINTS TO CONSIDER...


  • While a conservative rate of return was taken during the calculation of SIP (systematic investment plan), returns are subject to market risks. Past performance may or may not be sustained in the future. Mutual fund investments are subject to market risks, read all scheme-related documents carefully.

  • Specifics of educational loans may differ from bank to bank and candidature.  

  • Scholarships come with many underlying caveats and usually cater to people from certain socio-economic backgrounds. In addition, scholarships might be discontinued due to organizational constraints.

  • Getting jobs in aviation is largely dependent on the current market. Sign up for updates on the “careers” pages of many airlines. Also, do not hesitate to explore options in International airlines that have opportunities for Indian citizens.

  • Consider your current age before starting your flight training as Indian airlines have age restrictions while hiring.

  • While 50 lakhs is a good estimate, please bear in mind that the cost of training can vary depending on the institute/ country where you wish to pursue the course and is subject to the cost of inflation.


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