The post wasn't meant to be on the actual scheme or the company.
Its was a general comment on the way the schemes work.
The scheme has been used for years by all sorts of industrys to limit their corporation tax exposure. There are tonnes of other ones as well like if they are operating out of a high corprate tax region all the training will be done in a low corprate tax country. This training of course will be done at an exceptionally high cost. But it will seen as a cost and so go against profits.
Mean while in the low tax country it will be declared as profit and the tax payed.
The company as a whole hasn't lost any money as such but has payed less tax on the amount of profit.
The money is just a tool for the accountants books, the person taking out the loan won't have a clue who the money is being payed to, it will never be in thier bank account. It will all have been in the paper work which you will have pre signed with some boxes not filled out or even on an additional sheet which you will never see.
The company has to pay the training cost otherwise it would be deemed as a benefit in kind and you would be taxed on it.
Either way the whole crux of the issue is that you won't get anything for nothing. You will be paying 2-3 times as much as a modular student. Signed up to x number of years.
And it really doesn't matter what job you get at the end of it. The modular student who has gone 15k loan or no loan at all to FI for a year on 12k to TP FO for 3 years on 25k to TP captain or Jet FO on 40K a year will still be far better off than a direct entry bonded for 7 years 757 FO. And they will have had alot more fun as well.
The people who do apply for this scheme and do get the nod are the people type that the industry wants. It wouldn't matter if they had been modular trained or intergrated. They have the qualities required. Being selected for a scheme like this should give you even more confidence to go modular and save yourself the cost of a house by doing so.
Last edited by mad_jock; 21st Jun 2006 at 14:16.