The wave of personal bankruptcies by cadets/integrated chaps unable to find work in the great airline recession of 2008/9 will result in the total inability of anyone to borrow money to spend on flying training. Use as a guide the current domestic mortgage market.
What this impact will have on the various schemes I don't actually know as every time I try to think it through my head starts to hurt.
In the end, as with house price inflation, if you remove the silly lax lending then prices will drop for training courses. Airlines will have to pay more or go back to sponsoring cadet courses. Times will return to the happy situation of before we elected a socialist government wherein airlines places adverts, ran selection days, picked trainee pilots and then sorted out their training for them before bonding them into the company.
All that lax lending and mortgage equity withdrawal from high house price inflation has done is let sharp minds like Michael O Leary realise that, actually, these idiots are quite happy to borrow the money to train themselves and then work for nothing for a while afterwards. Excellent!
Take away the lending and the MEW'ing and only millionaires children or lottery winners could afford to pay £90k to work for free.
The real world is about to replace the fantasy world that this country has inhabited for the last decade.
It will not be so sunny a place.
WWW