Chief Wannabe Without Support!

[Rob 747]

Ive just signed for my 15K loan from HSBC.
Following the disaster last week and major lack of support im in two minds about training.

As the 'Chief wannabe without support' i am under fire from my dad about carrying on training!.

"you must get in the real world, there are no jobs. Youve got to give the loan back"

Im booked to goto ATA in April then the flying will start 6 mnths later.
I still really want to go, but in the back of my mind i have too many worries about not being able to pay the loan back! :rolleyes: and my dad hassling me all the way through training.null

I personally have planned to work as an instructor. I have even borrowed the extra 5K to pay for the rating! :D


I know what you are all gonna say-

'Screw him he is a turd!!' :eek: :D :eek:

And you'd be dead right too!!

PS.ahh that feels better :D

[NigelS]

I think you're dad has your best interests at heart.

The job market has taken a big knock and if you were just graduating with ticks in all the right boxes, you should be worried. You have to think carefully about how to proceed, but if you're right at the beginning you have a long while to go before you're going to be on the market. Hopefully, and fingers crossed, things will be better when you come to apply. This is the route I intend to take because have to focus on what I want to do with my life, not just take another route because of the current climate. I am fortunate though in that I will not be in serious debt at the end and I have an extremely supportive family.

What ever you decide, I wish you the very best of luck.

Kind regards

Nigel

[ 18 September 2001: Message edited by: NigelS ]

[Wee Weasley Welshman]

Tricky.

I'd give the money back for 3 - 6 months IF it won't cost you much and it won't jeopardise your loan application next time.

A couple of months will allow a much much clearer view to develop. Do not for one second think that even British Airways won't go bankrupt in the near future.

If we have a situation like 1991/2 then I wouldn't wish it on my worst enemy to be a CPL/IR holder with 200hrs no job a massive debt and ratings slowly expiring. Its heart breaking soul destroying stuff. You end up HATING aviation. I've seen it before and I never want to see it again.

Good time to seek a discount from FTO's though.

Not much of a silver lining I know.

WWW

[VFE]

Rob 747,

I can totally sympathise with your situation because I am not in a totally different one myself at the moment. The only difference is that I do not have the option of postponing my course like you do.
I started off thinking that maybe the job situation would not be as bad as everyone thought. To be able to predict a downturn comparable to 1991 you must have an awfull lot of insight into world affairs and to be quite frank none of us has seen a political situation like this before. Granted it could be compared to 1991 but it is totally unique in the sense that we just cannot say how a war with terrrorists is going to pan out. Surfice to say it won't be pleasant for us wannabes.
As far as your situation goes I would take a step back and be sensible. If you can give the money back but be able to borrow it at a later date then I would do so, if not then welcome aboard the flight to Uncertainty City!

As much as I hate to believe WWWs thoughts on the situation I have to face facts and admit that this is a grim state of affairs and will probably be this way for a couple of years at least.

Keep your chin up and be grateful that you have the opportunity to postpone so saving heartache and financial loss.

I won't tell you how much I have just borrowed.

VFE.

[ 18 September 2001: Message edited by: VFE ]

[Rob 747]

Thanks for all your advice.

WWW- The loan will not go into my account until Oct02 next year. I think i have got realistically till March next year until i have to decide.

Everyonelse- I know i'll definitely end up regreting it. Problem is i am already regretting selling my guitar to pay for my Hour building!. :rolleyes:
I have a single minded approach to this flying lark though-

I will be an instructor in 18 mnts :D

Maybe not an airline pilot, but instructing is what i want!
:D

I might even goto music school instead! Atleast then i will be doing the thing i love the most! :D Even more than flying! :p

[RVR800]

Youre Dad is right
Try and get into Air Traffic?
Save dont borrow wait for the next cycle
I am in the same sitution as you having
borrowed for the IR - Its an 1991 situation
at the moment - I fear that there will be many type rated pilot flooding onto the job market soon - I hope Im wrong
Dont be emotional be logical

[Eno]

I'm in the same situation.

I've got the loan's and Class 1 in hand, and was really looking forward to starting training next year but until I can see how bad this situation becomes theres no way on earth I'm going to pay for a course.The risk is just too high. I am hoping to instruct when I qualify but to be honest I can see instructing jobs drying up for a long in the near future.

For now, I'm activating my backup plan and my moneys being locked away until things become clear.

Good Luck to all
Eno

[Wee Weasley Welshman]

In 1992 I was on a RAF flying scholarship. My instructor that summer, Richard Jones, was ecstatic at having a salaried flight instruction job for the first time. He was not hopeful that he would find a salary again before Christmas.

He had been a flying instructor for 2 years...

Get the picture?

Imagine asking to work for free and being old to join the list. Then some.

WWW

[Rob 747]

So you are all saying

'POSTPONE IT'

I dont start training until April next year.
When would you say the right time would be to make the decision to postpone? Jan 02, Mar02?

If i postpone do you think i would be able to get my deposit back?

[Flyerphil]

Rob

We are sort of in the same boat - I am fortunate that I have equity in my house so I wont have to go into debt but then I am giving up a Partnership at the age of 31 and I have a young baby to think about.

The other comments are spot on about regretting it for the rest of your life.

I am also happy, at 31, to get a job as a flying instructor in the hope that eventually a job will present itself.

My problem is that I was intending to train in the states beginning next Summer. With a J1 Visa I can stay for two years in total and work as a flight instructor after my training. I will therefore descend on the UK job market with an ATPL in Summer 2004 when things may be just a little easier.

This option might not be available depending upon America's new "Foreign Policy" which we await with baited breath.

I am lucky in that I can wait and see what happens for the remainder of this year - but I feel that the nature of the business will lead to the industry surviving and flourishing once more.

Hope these words lend support to any other wannabes in a similar position.

"Keep the Faith" (someone has to train to become a pilot - why not you!!)

p.s. if you think this is complete naive boll*cks please dont tell me - I am actually having a good day

[Unwell_Raptor]

The fact is that nobody has the faintest idea how the economy, the industry, or anything else will go over the next year, let alone five years. A career decision has to be on a long timescale, so disregard the 'experts' and look at the long-term historical trends. The world will get richer, gradually. Richer people travel more than when they were poor, and that is usually by air. If the turnround takes two, or five, or ten years, you need to be there when it happens.

Markets always panic and overreact (in either direction. Hang in there! And good luck!