I don't really think that this is a fair comment to make, firstly did you ever go to CTC? Secondly, not only are you paying for the course you are paying for the 100% placement rate that CTC have up-held over the years, to me this was worth alot more money than going modular.
Despite the causal glance that I take on PPRuNe now and then, it has been many years since I have bothered to post, yet the continued growth of Flexicrew and those who sign up without proper research and financial planning is so infuriating that I have decided to add to the debate if only to stop on naive individual from financial ruin and the continued destruction of the industry.
CTC Propaganda: "WE HAVE 100% PLACEMENT" is CTC SMOKE AND MIRRORS!!!
When I joined the wings scheme I was fortunate to be able to take out the unsecured loan and then go into full employment on a seniority list. When I graduated the above statement was accurate. Under the old Wings scheme all cadets had been placed in full employment with an airline, on full terms, with a pension, seniority and a career path. Now you will NOT be employed. You will have a contract and will be dispensed with at the drop of a hat (that you have to pay for). You will have no seniority, no pension, no employment rights, no career path and not even a stable base. You may get "placed in a jet and pay to fly it" but this is not a job! You will have to be able to pay your bills and your loan (£1000/month) and its no secret that more than one Flexicrew cadet has gone bankrupt!
I was an avocate of CTC and would have recommended them to anyone. When I signed up CTC was a champion of those who were unable to afford training. Anyone with the right aptitude and skill set could apply, get the finance and become a pilot - with sensible financial risk. I was lucky and I'm sorry for you guys that the industry has changed to the way it has.
Now they are are an immoral bunch of "chaps
" who should be embarrassed about asking for 100K+. They know that when you combine your loan repayments with the cost of living you will be crippled, but they do it anyway! You WILL want to save for things like a house deposit... no chance, private pension... no chance.... children's education... nice wedding... holidays etc no chance. These may not seen important and very boring now, but in five years I have gone from none of those being relevant... to almost all of them! You will not be able to raise the 10-15% deposit required for a mortgage these days under Flexicrew, I can assure you.
For those who say its the dream and I must do it. Well it was my dream to, but even in the days of easy finance I still sat down and did the maths! Its not a complex sum to do. I was lucky with my timing, If I was sat down now doing the maths I could not be a pilot. I could not have raised the money for my training, my parents couldn't and neither would I put their house at risk! As for the dream.... delay it to start with, go to University and get into full time position in something else you enjoy. Then save and see where the land lies five years down the line! Wait for another BA FPP or Flybe. If this keeps going it is only a matter of time until Flexicrew Captains become the norm and when that happens the career path is over, forever! If that happens you will be financially limited for the rest of your career and into retirement. The said fact is that already legacy airlines T&C's are being hammered. Partly due to current climate but also to keep there prices in line with low cost! Soon there will be nowhere for the Flexicrew pilot to run!
As far as I can tell the Flexicrew systems allows CTC to train as many pilots as they like and EZY to keep on taking them. The supply and demand system does not matter now!
On a traditional salary system the airline has to employ the minimum number of pilots and work them to the max, in order to be cost efficient. In FC since you have no salary and will be paid by the hour, the situation is reversed. For maximum flexibly the airline can take on as many pilots and even be over crewed. They don't pay a penny (almost) unless you fly. CTC can therefore train as many people as they like and "place then all" and all the training is payed for upfront by the cadet! Everyone is a winner... apart from the cadet.
I am sorry to the individual who I have quoted and singled out. I guessed you were a newbie at 18 with few posts and looking to train. I would not want to put you off training altogether, I love the job and I appreciate there are few options at the moment. But do not go to CTC just because they place you. I went for that reason, but times have changed and unlike when I went the finances add up - unless you are rich or have rich parents!
Maybe go modular and go to somewhere like Qatar. Dare I say it would Ryanair be better!?!
Someone earlier said "why is everyone so negative, it used to be a positive place" well really sorry but its the reality of the situation. I only ask that you do your research and do not jump in at any cost! If you go to flight training events or open days ask CTC the right questions. Not stupid stuff like whats the accommodation like in NZ or what nice aircraft you have, will I fly that. You should be asking when do the loan repayments kick in? how much will they be? is there a contracted minimum number of hours I will fly on FC? how much per hour? put CTC on the spot and ask the tough questions!