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Old 11th April 2007 | 11:44
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RSinha
 
Joined: Aug 2006
Posts: 10
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From: US
With these schemes, you're only bonded for the cost of the type rating, not the cost of the training.

The loan is permanently between you and your bank, and you'll take it wherever you go.

As for the cost of the type rating, you're contract will stipulate how much its for (15-20k typically), and over what period, including details of how it reduces with time. Should you leave within said period, you would be liable to settle the remaining balance.

If you were made redundant during the bonded period, it would, I suppose, depend on whats written on your contract regarding the bond, but I would assume (with legal expertise sought) that clearly if you were made redundant, they would struggle getting any money from you, even if there was an ambiguity in the contract.

With these schemes though, the training loan will remain with you...
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