I predict dozens and possibly hundreds of 'cadets' with £80k bonds of whatever flavour will be standing in front of the Bankruptcy Court in 2009/2010. Which is entirely correct as the court exists to provide protection to people who honestly get themselves into unmanageable debt. Which is where many find themselves today and more will find themselves tomorrow.
What you have to realise, accept, believe is that there will be No Jobs for two years. The whole shuddering edifice of the flight training industry is continuing to pump out new pilots when none are required.
Guys with 1,000hrs jet hours in XL are still job hunting to no avail.
There's nothing out there.
Nothing.
WWW