In years gone by far fewer people had access to the kind of credit now commonly available and houses were not so high a multiple of average earnings.
These two facts go a long way to explaining the rise of six figure training spends.
Of course when BoE base rates go back to 6% - and they absolutely will - then the both the housing equity and loan serviceability collapses and the model reverts closer to 'the good old days'.
Of course there will be no jobs at that point because the UK consumer/passenger is just a junkie addicted to cheap money. The withdrawal symptoms will be similarly unpleasant and many airlines will go bust. People totally forget that we are still in emergency measures with 1/2% base rates which has never been seen before.
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