No, not true. Read the various threads (the one you're posting in for a start) and you'll see that the unsecured loan facility through HSBC has been stopped. For how long? Nobody knows. If you can source the finance elsewhere, the Wings scheme is still perfectly viable.
My guess (largely uneducated on the grand scheme of things) is that when CTC get their record of placing people within a month of the final stage of the Wings course back, the banks will be happier to lend to the cadets.