Smurf
Out of curiosity, I've tried to find out but no one seems to know as its yet to happen (to an iCadet).
Cathay will endevour to get every S/O in the system through the training, using its considerable resources as they need bums in seats.
Deliberately failing (in order to escape the contract) would undoubtedly be vigorously pursued.
In the unlikely event that someone fails miserably to meet the standard (which have dropped considerably over the years, fwiw) I'm certain the financial side will be dealt with in typical CX (admin) fashion, with threats and intimidation, testing (and breaking) the limits of the law in a somewhat reactionary fashion until some sort of statutory boundary is enforced by an external agency.
This will be followed by an enforced amendment by CX (in a draconian manner, of course) to all icadets contracts to cover themselves. It's how they work. 100% reactionary.
In the past, LEPs (the acronym for our local - Chinese - cadet scheme) who failed, simply left. Some left flying entirely, some went to the CAD, some to GFS, others to other airlines in HKG...without having to reimburse CX. As far as know, CX never attempted to recover the cost of training as there was no bond.
That was before some "genius" thought up this forgivable loan idea. As you've been "loaned" the money, both from a contractual perspective and as far as the IRD are concerned (they are taxing the entire amount of the loan - in one lump, btw) I would imagine that CX have some sort of legal right to attempt recovery of the dough. Whether they actually succeed is the question. Time will tell.
Nice guys they are not. Caveat emptor.
Last edited by Cpt. Underpants; 10th Mar 2012 at 21:34.