After reading here about the Scottish Enterprise Board apparently putting funds into Malgus for pilot training. I got in touch with them. Here is their word on the question of putting 50% of training costs, into Malgus - as purported by a poster a few posts back. Just look back a few posts.
The Scottish Enterprise Board have stated quite categorically that they havel NOT, and will not, be making any financial contributions to any pilot training under the auspices of the Malgus scheme.
This clarifies the position for those who are interested. As far as our wannabes are concerned they are best advised to keep their money in their pocket.
So, at the risk of repeating myself, this now leaves the question of just how many people are required to make the scheme work. So this is final word on this. Any further Malgus threads will be closed as they are made.
For
ONE person to go Jerez for training it will cost circa £55,000 per course. Each student wanting to take part must pay to Malgus £147. Malgus, see their website
www.malgus.com - will take £47 of this towards expenses, which include some initial costs for the student while there and for getting there and back.
The other £100 goes towards one course.
So, one course requires 550 students to fund ONE course.
While Malgus claim that this is 100% sponsorship, it isn't. IF ONE person goes to Jerez and comes back with a licence, he/she will require to pay Malgus 50% of the course cost. That is £27,500 after you have got a job. That has to be paid back in 5 years OR put it another way, you have to pay £458 per month out of your new salary - whatever it is. Almost as much as a mortgage. How would get one anyway - with that sum going out for FIVE years?
The question now is: Malgus say they have a planned programme of four candidates going to Jerez in October. That will cost £220,000. A lot of money. Do they have that in the bank? Or a serious investor? Malgus cannot afford it if their scheme still relies on having all those £147's in place. 2200 candidates as I see it, and they haven't interviewed them yet. It is also asserted a couple of posts up that BAe have already said that Malgus have confirmed nothing yet.
It is, of course, possible that they have an investor, in which case this should not be difficult to establish. In which case the investor is in for a rather good take back of £27,500 over 5 years. Your money!
Save your money. If Malgus have something real can you afford to do it?