Sad news really - particularly for those half way through the course out in NZ. Bet they were pleased to see the ATP scheme started!
I must say I smelt a rat straight away when I saw the Wings ATP scheme open. With the cadets struggling to get summer temp contracts, the idea of throwing more pilots into the hold pool in today's climate suggests all is not rosy down at the mannor.
Time will tell, but all of the above information is classic behaviour of a company clutching at straws.
Many here have said the credit crunch will do some serious damage to the integrated training world. Perhaps it will never be the same again - certainly there will be less £60k loans.
The bottom line is wait and see. If they are still here in 18 months time then think about it. In the mean time keep your money. And hands off the old man's house!