If the LT isn't completed within the 6 months training contract then said contract is extended. Not too sure if this is on a rolling basis, fixed term or if it depends on the individuals circumstances.
People here are quite rightly pointing out the risks associated with such an opportunity but the rewards far outweigh the risks IMO. People need to realise though, that RYR aren't trying to grab 30k off you. They couldn't care less, there's a huge surplus of pilots right now and very little opportunities and they rightly know that people will cough up the money. IMO ALL TR should be sponsored/bonded but sadly this is just the situation we find ourselves in just now.
It has already been pointed out but I'd reiterate the point that - THIS HAS ALWAYS BEEN RYR's METHOD OF TAKING ON CADETS - TRAINING CONTRACTS FOR LT, many who've went down this route have went on to have massively successful careers. The only thing that changed in the past was the price. RYR are in a strong position but have lost huge amounts over the last year, so yes, of course they're going to cut costs in any way they can, like most LCC's would - so it's not a surprise its 30k. Despite this always being the method of hiring cadets, I understand that we are now faced with a different set of circumstances that we haven't faced before. HUGE uncertainty. RYR from what I can see have always been clear that this is for Summer 2022 growth. Not Summer 2021, but 2022. Now with that being said, this summer looks like it could have great potential, there's certainly some encouraging signs but time will tell. There's no doubt however next year will be the one. RYR don't want to be LT guys during what could possibly be their busiest summer to date. So, by starting LT this year, everyone is prepared for next. It remains to be seen whether LT will be dragged out this year if need be or whether it will be done a close to the standard time as possible and then put on unpaid leave as such - should the expected recovery forecast for this year not materialise. That being said, like I mentioned earlier, the signs are there for this year. EU countries already making early commitments to being open for tourists. This combined with the incredible speed of the vaccine rollout should make for a great summer and strong winter.
I see they're also letting people delay TR start dates by 6 months like they always have done. This is VERY reassuring and encouraging as it let's you see how others get on first - the 'guinea pigs' as such. Its something i'd strongly advise anyone applying for this to do. I know 2 TR classes have already started and are due to start LT early-mid June. So, say your due to start TR in sept and the first TR class finish LT in aug/sep and don't move on to a RYR contract - you simply wouldn't join and the flip-side being - if they do get contracts then it adds some more certainty.
Look guys, just be aware about what your signing up for - do the research, listen to people who've been there and done that, talk to current RYR pilots. You're gonna hear positives and negatives like you would in most companies, in any line of work. **One thing I would add is that you must be wary of some of the posts on here, some of the guys make valid points and are trying to help but there's some who aren't as helpful and are filling this forum with BS.** It's down to yourself at the end of the day to weigh up the pro's and con's and decide accordingly but like I say, there certainly is encouraging signs but don't rush the decision.