So true Brindabella, just check out the ANA Dash 8 contract in Japan.
The biggest problem is how long before Qantas Mainline starts charging for their endorsements? I'm sure Qantas can use the reason;
3 - Why has QantasLink created such a system? The "pay for your own endorsement" is very much an industry norm. This change will enable QantasLink to continue to contend successfully in a highly competitive market.
And it won't be long before other companies use the same line.
To become an airline pilot (regional or major) is now going to cost you around $60000-$80000. Far cry from a few years back when you got your commercial, then an instrument rating/instructor rating, maybe paid for a PA31 or similar aircraft, spent a few years in GA and then you were rewarded with an airline job. Now it comes down to who has the biggest cheque book.
The monthly repayment on a $16000 loan over 5 years is $397.64.
If the FO's are on $42000 per year, their after tax wage per month is $2478.77.
After taking away the loan payment you get $2081.13.
Say $250 per week for rent(thats really cheap for SYD) you end up with $1081.13.
You still have to pay for groceries, phone, petrol etc etc.
Lets say they cost you another $250 per week (you buy "no name" brands) you are up for another $1000.
So after working hard for a month you end up with a big $81.13 per month to show for it.