ambulance,
Under the old loganair scheme (which until recently used to be one of the best opportunities in the country), I would have jumped at the chance. The past scheme which was taking a bond that is in the form of a loan that is paid back + interest is completely reasonable and the pilot never sees the debt unless he jumps ship.
Buying a TR outright that is not paid back through a bonding scheme is not.
If Loganair upped the bond to £20K. It wouldnt make much difference to them but they would get more money if people jumped ship early and people wouldnt be in more debt, not to mention the extra outlay would encourage people to stay. This is not what they have chosen to do.
The current scheme as it stands now is, sadly, curently one of the worst in the country (behind easy in my opinion because easy pay you back all the TR costs + interest) and people should recognise that and vote with their feet. Like you say. Some wont and some depserate souls will take the chance, get more debt and get one more irresponsible step closer to bankruptcy.
Market forces or not, I think for a companies like logan, it is a step in the wrong direction and in 5 years time when they have zero training captains I think they will wish they hadnt made that step. In todays climate, everyone wants that shiny jet rating and job so who is going to want to hang around to train people that are just as disinterested in a long term turbo prop job as themselves?
OSOP