Hi,
Received the application form today. Although I will still apply I am a little concerned about the finance side of the contract. Basically I need more information?, and I don't know if previous applicants can help ?. I'm quite happy/willing to fork out £40K if successful but what i'm concerned about is that FlyBe want you to pay back their share of £20K also. I thought the point of a part-sponsorship was for them to pay an amount (and for it not to be paid back) and for you as the cadet to pay the £40k loan back ??..
The contract mentions that they deduct £3,960 per annum from your salary to repay the costs from them i.e £20k in total, and that you will be paid the appropriate FO's salary (but what is it?).. Looking at PPJN is that £30K ?? or do you enter as a cadet FO on a lower salary ?.
Sorry to talk about money but if recruited on a salary of low £20k it would be almost impossible to repay a loan of that amount and FlyBe ? Can someone shed anything on this subject ? previous successful applicants maybe? - and how they managed?.
It is a great scheme and I appreciate what they are doing for low houred people but the information is vague with regards to finance. I know I will need to ask more questions if I get onto the 2nd stage.
Thanks, Biggles