Yea we were fed the "honesty" too.
Things have changed folks. CTC is not producing a high quality product anymore. The low cost operators are about to be fed some pretty poor products, but they wont see the product for 6 -12 months (plus the holdpool wait).
Eventually JAA/CAA will be forced into doing what the FAA, NZCAA and some other ICAO states have done, that is introduce an hours requirement to fly a jet. Usually 1500hrs. (Australia CASA is investigating this now).
In my opinion it is becoming recognised the Oxfords and CTC's cannot produce a quality product and still make money. CTC made a loss in NZ when they were producing a quality product (2006ish), now they have to make money at all costs.