Finance 101
Assuming a 10% average annual return on your investment (not unrealistic if into property / stocks for the long haul), 50,000 GBP invested today would return you 872,470 in 30 years.
Of course, inflation would take a chunk out of it but, if inflation stays at current levels, it'll still be a hefty sum.
100,000 GBP (fATPL + Eaglejet scheme) in 30 years would be worth 1,744,940 GBP....
Fair enough, if you really want the dream you have to spend the first 50k to be in the game - but blowing (or borrowing!!) another 50k before trying every possible other avenue is, frankly, not too bright unless you have a lot of money and won't miss it. Send out CVs, instructing, networking, CTC ATP scheme - there are lots of avenues to try. I know 8 low-hours pilots who got jet jobs in the last few weeks at three different operators.
You have to remember that 100k is not a lot of money if you are talking about getting a mortgage for a house. However, a house appreciates in value. Flying training is NOT, NOT a financial investment - you could probably earn the same money in another industry - it's spending money for something you want to do. Nothing wrong with that but don't set yourself up for unhappiness in the future by borrowing anything but the minimum you have to.
Anyone who wants to play with compound interest rates, lookup the FV (Future Value) function in Excel Help.
Regarding the Eaglejet scheme -
According to Stephane (Eaglejet) they have links with airlines in Prague, Istanbul and Scandanavia. I understand from someone else the A320 line training may be offered in Portugal. Of course, which airlines they are is not easy to find out. Eaglejet direct UK pilots to Astraeus / Bond for the 737 Type Rating and Gecat for the A320 and say they don't make money on this portion - only commission on the line training apparently. I believe them as they are happy if you get your own TR from whoever and just buy the line training from them.
Providing Eaglejet (and the airlines they use) check out as legitimate, I don't see why this scheme is any different in principle to Astraues offering 100hrs line training - they are just offering a more useful amount of hours - at least you'd be able to unfreeze your fATPL. Building hours by instructing is not everyone's cup of tea and 500hrs on this route is half the cost of piston twin time.
Last edited by buttline; 15th October 2003 at 07:21.