According to the Fund’s bylaws, its main objective is to assist with the cost of training courses that the Fund’s board decides to offer its members.
The Fund's three board members are appointed by the board of FÍA.
In the 2004 Wage agreements, a clause regarding the training fund of FÍA and flight operators was installed for the first time, in accordance with similar clauses in the general work market. In operation since 2006, the Fund’s role has been expanding along with its contributions.
The maximum amount of support granted is decided by the Fund’s board, according to the its regulations. The amount is now set at max. ISK 250.000.