ABN AMRO is careful in providing loans to (prospective) pilots

ABN AMRO has been financing pilot taining for twenty-five years and therefore knows the market and the target group well. The bank has a special pilot desk, a team of specialists who serve these customers. It is a highly volatile and cyclical market that, like many other sectors, is suffering from the economic crisis. At the moment, the Dutch market for pilots is having a harder time than the European and international markets. There were also waiting lists in the years after 9-11-2001 and 2002/2003 (SARS). Then those waiting lists resolved after air transport picked up again and the demand for pilots inherently rose again. Signals indicate that the international market is picking up again. According to external experts, there may be opportunities for Dutch pilots there. A shortage is even expected worldwide.

In consultation with the flying schools, ABN AMRO has become more reluctant to finance (future) pilots in anticipation of the deteriorating market conditions in 2009. ABN AMRO has also entered into discussions with flying schools on how to reduce training capacity.

The moment (prospective) pilots sign up for a student loan, ABN AMRO provides information about the loan and the conditions and ABN AMRO points out the associated financial risks. The bank prefers to conduct that conversation in the presence of the parents. Students also receive an information package. Although the bank is not about the prospects for the labor market, the bank also states that it is not obvious that a job will be found.

ABN AMRO believes that the bank is also careful in the past. Fortunately, even now, the vast majority of pilots who are customers of the bank meet their payment obligations. There is a counseling process for that limited group of customers for whom there is a problem. If the (prospective) pilot cannot meet his repayment obligations due to insufficient income, a suitable solution will be considered.