People who just started training cant just stop and collect a full refund.
People who are about to graduate cant just stop either.
This ensures at least a years worth of cadets from every FTO coming onto the job seeking market in an unforgiving climate.
If there ever was a time to delay your training start, this would be it right now. Yet the FTO's are still chock a block with courses booked up for months, with many eager wannabes waiting to start asap and take the place of someone who drops out.
In a years time, we'll have a better understanding of how the economy will fare, and what measures governments are willing to do and in what timescale.
One thing is for sure; the FTO's certaintly wont go bust in the next year or two. Most dont appreciate loaned money, and how long it takes to earn in the real world. It still feels like free money, so for now, wannabes will continue to spend it freely to follow their dreams.
Ofc, the potential is there for things to get much worse. We are seeing HSBC turning away some FTO's (for now), but most can still secure money through other means. Until those avenues dry up aswell, the insatiable masses will still want their flying!
tldr: The economy will have to get much worse before it starts affecting next 'generation' of applicants. Cant say for sure if this will happen.