Hi Easy1,
I had a long conversation with HR staff, a training captain and a trainee pilot from CTC on Friday. Negating the obvious selling tactics used to get you to part with your money, I found their approach better than other flight schools I’ve looked into for my training (I mention no names). The selling point for me is that the bond for the wings cadet scheme is unsecured. They informed me that they underwrite half the bond which allows you to take it out unsecured from HSBC. I was also informed that apparently not one of their cadets has ever been refused the unsecured bond because of the underwriting (even those with poor credit ratings).
On the job front apparently the majority of the trainees are put with an airline towards the end or soon after training, of which the bond is then passed to the airline who supplies the type rating. However, you are only paid an allowance during the type rating period. After which a cadet salary is paid, with loan repayments by the airline, with some interest payments on top.
Ultimately the bond is still your responsibility and you never get something for nothing, but at the end of the day this appears the most financially friendly integrated scheme around at the moment. However, please don’t take all I’ve said as the gospel truth as I’m sure there will be, people who strongly disagree with what I have said. Regardless of this its won me over, ill be applying soon.
Best
Docash1983