New Loan Options Offered For Cadet Academy
The Credit Union and the American Airlines Cadet Academy announced a new partnership, bringing an additional suite of new financial options for incoming candidates accepted into the Cadet Academy program.
• Since launching in 2018, nearly 600 cadets have joined the American Airlines Cadet Academy, a first-of-its-kind flight training program. Of those, 60 have already graduated the program and are now professional aviators.
• An additional financial option from American Airlines Credit Union helps further remove the financial burden for incoming and current cadets.
• In addition to financing opportunities, the Cadet Academy also offers the resources and support needed to enter the decorated, yet demanding profession.
“We're extremely excited to partner with American Airlines in providing tuition financing along with personalized care and service to this specialized group of students,” said Lori Hall, Credit Union Senior Vice President, Member Experience. “Our comprehensive financial wellness program is tailored to assist the next generation of pilots in balancing their technical skills with the financial education needed to succeed in their future careers.”
As part of the Credit Union’s complete Cadet Academy financing program, the loans will be available in low fixed- and variable-rate options and are designed to cover all expenses, including housing and stipend costs.
This partnership with the Credit Union makes the Cadet Academy the only program of its kind with two financial partnerships dedicated to supporting cadets entering its program. These various financial options were designed to help eliminate the financial barriers prospective pilots face, while supporting the incremental growth of the pilot population and creating greater diversity amongst the future and current pilot ranks.
“We continue to increase our pilot hiring efforts this year and beyond, including additional investment in our Cadet Academy program,” said Christina Flores, American’s Managing Director of Aviation Recruiting and Programs. “Our work to grow and diversify the pilot profession is well underway. A critical part of that effort is our commitment to find more innovative ways to reach young, aspiring aviators and support them, financially and through mentorship, on their path to a career in aviation.”
Fabiola Sanchez, a Cadet Academy graduate and First Officer at Envoy, a wholly owned regional carrier of American Airlines, knows first-hand how important these financing programs can be to ensuring a future on the flight deck. “Before the Cadet Academy, I never committed to local flight schools because I knew I’d need a co-signer to receive financial assistance,” said Fabiola. “I was able to take out a loan on my own and join a structured program that helped me accomplish all the requirements needed to become an airline pilot and in the shortest amount of time. Without the Cadet Academy and the financing program it offered, it could have easily taken years longer to achieve my dreams.”
“After helping generations of active, retired and former air transportation employees, as well as their families, we’ve never lost touch with the importance of supporting and staying connected with our fellow colleagues in the airline industry,” said Credit Union President & CEO Gail Enda. “We look forward to embracing the next generation of pilots as we offer new ways to help these students make their dreams take flight.”
About the American Airlines Cadet Academy
The American Airlines Cadet Academy is a first-of-its-kind program that launched in 2018, providing aspiring pilots with the training, financing and mentorship opportunities needed to become professional aviators at one of American’s wholly owned regional carriers — Envoy, PSA or Piedmont — and eventually, American. The program’s mission is to bridge the gap between a future pilot’s dreams and reality by connecting prospective pilots with financing opportunities for flight school. The training program also offers the resources and the support needed to enter the decorated yet demanding profession. Since its launch, about 600 cadets have entered the program. Learn more and apply at aacadetacademy.com.
About American Airlines Group
To Care for People on Life’s Journey®. Shares of American Airlines Group Inc. trade on Nasdaq under the ticker symbol AAL and the company’s stock is included in the S&P 500. Learn more about what’s happening at American by visiting news.aa.com and connect with American on Twitter @AmericanAir and at Facebook.com/AmericanAirlines.