This bonding arrangement has been borrowed from Channex with whom Emerald are supposed to have a gentlemens' agreement not to take each others crew.
The CEO will persue you for the bond if you leave and don't settle it ( bearing in mind they keep your last months net pay towards the outstanding bond (clause written into the bond))
More than one pilot who has left owing has found that if things don't work out at the new job that Emerald will not take them back and a bad telephone reference isn't worth the paper it's written on !
Finally, it's a nice little earner if a pilot leaves after one year owing £5,000 (now £12,000)That puts a few cherries in the Chairman's cocktail in the Bahamas.
No landing fees at Liverpool and only 5
hours type training doesn't add up to £12,000. However, Emerald makes a healthy profit and always have done, this can be very handy in a business where everything looks rosy until the P45 appears in the pidgeonhole and 'For Sale' in Flight International.
[This message has been edited by Captain Mainwaring (edited 28 February 2001).]