COOP BANK PARTNERS WITH KENYAN AIRWAYS FOR PILOT TRAINING

Co-op Bank has partnered with Kenya Airways to finance its pilots training program. Under the “Ab Initio” program, trainee pilots will receive loans from Co-op bank to facilitate the training. Co-op Bank, the sole financier of the training program, will provide KES324 million as a revolving fund from which, each pilot is expected to draw 5.4 million as a loan to finance the pilot training course. The loan is to be repaid over a period of 96 months after a grace period of 27 months, this being the training period. On completion of the training, Kenya Airways guarantees permanent employment