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Old 19th Jan 2008, 12:54
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Orvil
 
Join Date: Jan 2003
Location: Cheltenham Spa
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FirstofficerYonder,
If you read the newspapers I would think twice about blowing your inheritence on a SSTR with Ryanair. It's looking very likely that the UK is heading for recession. What Ryanair are offering is not employment but self-employment through a contracting agency. This may look ok to some but experience shows that in a downturn contractors are the first to go. A cynical person would say that Ryanair are aware of this and that's why they are only offering contracts through Brookfield, it limits their moral, legal and financial responsibilites if redundancies occur.
I am aware that Ryanair have tonnes of cash and that they can fly for 2 years without any customers and still remain solvent, as quoted on a open day. However, do you really think that they'll hand over this cash to contractors for free? I think not. It wouldn't make sense when you don't legally have to. Remember RY didn't get to where it is today by being generous.

If I was you I'd put the money down on a nice 2 bedroom flat, preferably near a Uni town or FTO and rent the spare room out. At least you have a roof over your head, as long as you can pay the mortgage. You'd get a bargain at the moment with prices droping 10 to 17%.

If you really want to do a SSTR, do it through GECAT or CAE at least you'd be employed, covered by a union and if it does go tits up you'd have some legal rights which you wouldn't get at Ryanair.

Anyway, Like I've said before it's upto you but in this economic climate I'd be very weary of blowing £30,000 and not being employed as an employee but a contractor.

best wishes and good luck
Orvil
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