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Thread: Finance for CTC
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Old 28th Sep 2008, 22:47
  #20 (permalink)  
superjet777-300
 
Join Date: Jun 2008
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Once upon a time, CTC were THE best route to become an airline pilot. They were taking 1.5% of all initial apllicants, training 6 new cadets a month who would fly every day, all of whom were going straight into airline jobs. HSBC were happy to fund these cadets as there was no question over them getting jobs as they were all quality pilots who the airlines loved.

Then CTC got greedy...

They started trying to train 14-16 new cadets (£60,000 each) a month, as a result, they had to lower their standards letting 5% of the initial aplicants onto the course, sending them to New Zealand when they knew that there were not enough aircraft or instructors to train them. Cadets would fly once a week. Standards dropped, a higher percentage of cadets got chopped.

Then they started the Wings ICP scheme. Using the CTC name to brand a course you can do at any flying club.

Then the industry went tits up... 14-16 cadets a month finishing training, zero jobs available. Hold pool rapidly filling. HSBC gets nervous, cuts funding to the cadets.

End result? CTC is now no different to Oxford, FTE, Cabair or any other flying school. Don't be dazzled by the name.
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