As a 'cadet' it's nice to see that current pilots, regardless of employer, are talking about this.
For the guys asking cadets to reject the deal:
Most are somehow finding the required up front cash, amazing in itself, for the new deals and are doing so as they have nothing else to go for. Let us be frank. I think the new deal stinks. As a group we might have had some negotiating power given the large numbers involved however the stance taken by HSBC leaves most with little to no options. With the growing number of people accepting the deal we are losing that ability.
Take the job on a pittance in the knowledge that a) you're ultimately degrading terms and conditions for everyone b) you're going to be scraping by and only just at that c) you have no other choice.
The protection of bankruptcy may be needed for some if they take the deal. It almost certainly will be needed if they don't.
The 'I'm alright Jack' attitude is all well and good sitting in the ivory tower. The guys are just trying to keep their credit ratings and survive. Significantly most of the current guys are all on unsecured finance. Can you imagine the sheer terror that the others who needed security are feeling, given that as each day rolls by and that first payment is due, so the bank(s) inch ever closer to their front door.
Instead of everyone just complaining and moaning, how about suggesting a way forward?
Reasons for the problems:
Cadets already in the program never anticipated the worst. Perhaps their own fault some will say.
Some did and have other careers to go to. These are an unbelievably small minority and are labeled as negative and pessimistic.
HSBC are not being flexible and will not grant extensions to the finance even in the knowledge that they are, potentially, foreclosing on revenues up to six figures. This could possibly be more if they did offer extensions and compound interest was allowed to increase further still.
With HSBC being unmoving and quite hostile, again understandable given the financial climate we are in, people have no other choice. Entry graduate jobs are massively over subscribed to thanks to a useless Labour government with a massive reduction in the value of a degree.
Core skills such as medicine, engineering, teaching etc are simply not accessible without experience and most have forgone this to take up places on the CTC course.
Oxford cadets have already demonstrated, similar to the ATP and Eaglejet brigade, that they are more than willing to throw large sums of cash at this. I have no doubt that if CTC seniors were to resist the deal completely that the likes of OAA would gladly take over. Imagine all those lovely new placement numbers they could put in their glossy brochure.
Nobody else is recruiting low hour fATPL pilots and can we please stop harping on about FI jobs. There aren't any going either.
Possible Route(s) to Improvement:
????
Cadets to refuse the new deal. We'd need agreement from OAA cadets that they would do likewise and an agreement from easyJet that they will not re-introduce the ATP program or recruit from similar schemes. Fiendishly difficult to do.
Existing employees to strongly push management into offering standard contracts along the lines of 1 job role, 1 standard of remuneration. Simples. How this is not standard now is beyond me. It'd be cause for a strike at any engineering company for sure. Of course this doesn't bring contracting into it. That is a hellishly difficult subject to handle. Unions hate it and I've taken advantage of it myself in previous job roles.
You could plausibly avoid the contracting subject completely. If there are vacancies then employment has to be on permanent contracts. They could easily be fixed term. CTC deals are three year deals and the uptake recently has been substantial and we know they're still undercrewed. No need for recruitment? Bull
.....
Like I've said in earlier posts. Orange management have played an absolute corker here. Exploiting contractors is a fantastic way around employed crew and they must be well aware of 1) HSBC's beligerent (sp?) new attitude towards CTC cadets 2) Oxfords willingness to usurp CTC and step into the breach.
Divide, laugh, humiliate, conquer and reap the rewards. It sounds like most of us would....
What do I know. I'm edging towards 30 and have experience in a significantly challenging environment with just as tough financial constraints as aviation but because I only have sub 300 hours flying I must be a fool.