Originally Posted by
rudestuff
In the UK at typical prices about £45,000-£50,000 is achievable if you do everything in the optimal order. It's relatively easy to price it up using any flight schools rate-sheet. To finish your fATPL with the CPL test you need at least 200 hours total (with a minimum of 12 hours multi engine) and 77 hours of dual instruction. Plus the cost of medical, ATPL theory, exams, flight tests and licence and landing fees.
Using £175ph (SEP), £450ph (MEP) and £60(Instructor) as an example:
(188x175)+(12×450)+(77*60) = £42,920.
That's doing it all in the UK at school rates. If you split your hour building into 2 blocks of 2 weeks of 50 hours and do it in Florida at £100 per hour (probably cheaper) then even if you spend £2000 each time on flights and hotels you'll save £3500 which brings the cost of aircraft and instructor below £40,000. Plus you'll get the hours a lot quicker.
Hey rudestuff,
Currently in a similarish career to airlines, just via a different medium....
I've seen you say that now has never been better than to go for the training. I've seen others say that even taking out a loan to part fund is an option worth considering (sorry I can't remember who).
My day job pays well. However it will take me a year or two to save up the figures quoted for modular. There are a few options I have been thinking about;
1. Take as big a loan as I can get, and save up the remaining difference = less time to fATPL and more chances of employment "quicker" in this market, and thus total career earnings. However more debt and first job could be on regional carrier with low pay and high repayments...
2. Save up everything I need including living expenses and then do it all off my own back = will take 2/3 years to save up properly and may have missed my "chance" in the market. However no debt and if I get first job with regional, I'll not be struggling with repayments. Though final career earnings could be less??
3. A balance of the two options. Save up half and loan the other half = best of both worlds or worst of both worlds?
Any thoughts on the above?
Cheers