CTC bond - self finance

[102roadlegal]

Can anyone explain, if I am able to self finance the CTC (wings) bond, what period I am still "bonded" to a partner airline or what my obligations will be ?
I'm confused, as if I pay it myself, without a loan, I don't owe anyone anything at the end, so no need for deductions from my salarly to re-pay the loan.

[LessThanSte]

This also intriques me. I would assume that the £60,000 or whatever is to cover against you going AWOL once you'd been trained and not paying anything. I would therefore assume that the £60,000 would be paid back to you over a certain period once you have finished training?

oui or non?

[102roadlegal]

The loan is used to pay CTC as you train. The £60k gets deducted once you are earning, so you re-pay the loan, but if I don't use a loan, how does it work ? I don't think you get it back ??

[BitMoreRightRudder]

would therefore assume that the £60,000 would be paid back to you over a certain period once you have finished training?


Bless :E

If you can self-finance you simply cut the bank out of the equation and give the 60 grand straight to CTC. You don't get it back, believe me! What you will do is save yourself around 24k worth of interest payments on a bank loan. What the airline pays you when you join depends entirely where you end up. At easyjet you will simply earn an F/O salary without having to give the bank a grand of it every month.

You won't be bonded, you can go where you like. CTC call it a "bond", which is a load of :mad:, you pay 60k for your training, you are under no obligation to stay at any airline for any length of time.

[LessThanSte]

So in reality its not a bond and is infact a payment. Why cant they just say that? :P

[BitMoreRightRudder]

A very good question. They didn't get the nickname HSBCTC for nothing!;)

[dartagnan]

what a bunch of smart pants!!!
it s not a bond, u borrow money that you give to CTC. then you have to pay back the bank.

if CTC goes bankrupt, you lose all...:{

[102roadlegal]

Cheers folks, that's clarified it.
Bitmorerightrudder, do you have insider knowledge of the organisation ?

[Superpilot]

Nah, he just likes to think so! :ok:

[BitMoreRightRudder]

Well I've had dinner at RAF Dibden a few times, very nice it was too.

Though you'd expect a decent bit of steak for 60K! :E