Hi Guys
I have not seen any thread with regards Cebu NTR bond
Do any one could give some details on the NTR Bond and if its pro-rated?
Thanks very much
The so called "bonds" are nothing more than a method to get a pilot into indentured servitude. The price of the bond well exceeds what the training actually cost. And the price of the bond is usually set by HR depending on the pilot.
Bonds range from $30,000 US up to $50,000 US.
Repayment is typically 3 years and CP will have the pilot write a check for each month of those three years and post date them (Very illegal, BTW). The scheme is if the pilot leaves before the 3 years then CP will start cashing the checks, and if the checks bounce for lack of funds then they will have the pilot charged under local law for writing bad checks.
But it gets better. Let's say the pilot is an FO and upgades in 2 years, now the pilot signs another bond for the upgrade, so this pilot can have two bonds at the same time. And CP also tries to bond all pilots whether typed or not.
In today's pilot market, any company that requires a pilot to sign training bonds is not worth working for as there are many airlines hiring. Also consider that signing that bond with CP you are working for very low wages, the worst scheduling system, virtually no benefits and training that is substandard.