I sent in my application yesterday. I will see if I get invited to the next stage. I have a few question about financing the whole thing. I would like some help with this, to get a good picture of it, so I can decide if I will take the "jump" if selected. As far as I understand until now is that you pay a security bond of 69000 Pounds. You pay the 69000 Pounds in 13 installments, so if all the installments are of the same amount I would have to pay around 5300 Pounds each time. In addition to that you pay 2x a MPL Training fee. One of about 17500 Pounds and the other one of 13440 Pounds. So everything together it will be just short of a 100000 Pounds. For me around 120000 Euros.
After training, you get a 3 years contract with CTC FlexiCrew, right? I read the thread and the first eight months your earn about 1200 Pounds. Which according to other people in this thread is doable. So if I can get the same loan "deal" as mentioned some posts before you will not have any repayments during that months. So a news item on the easyJet website says that the total reward package is 40K for full time cadet pilots. So can anyone give me an indication of what I will realistically earn monthly after those 8 months with CTC FlexiCrew? Can I pay my loan with that loan? Or will it be a struggle?
And then after two years and 1250 hours you can apply or switch to a permanent contract at easyJet. Which unless you perform quite badly (or so I read) will be given. So then you go to a first officer pay of about 54K (full time, total reward package). So what do you get monthly, anyone who can say me that? And in addition to that you will get your bond back in monthly installments? I read somewhere that the monthly installments are about 1000 Pounds, so it will take 69 Months (about 6 years). I don't know the UK tax system, but is that what you really back a 1000 each month or is way less?
Also on the BALPA website, their is news of a new easyjet contract. You can only be on CTC FlexiCrew for 12months and than join easyJet as a Second Officer at 38000 Pounds a year. What will that be realistically?
One of my main questions is, that I don't see any financing options on the CTC Wings website which I can use. They got the BBVA option, but I need a property in the UK or BNP Paribas, but both my parents are Dutch and not French. So I can't use that option either. Is there any other financing option, will CTC help me if selected with financing? Or is it up to me to come up with a loan/financing solution?
What starting dates have you been offered? I know for example that at the BAFPP it is sometimes August 2014 or something like that.
I'm sorry if some information has been mentioned at this thread before, but I just want to get a clear idea of what I could be signing up with. Do you think it is good "deal" overall? Because I was developing a back-up plan, join university study a bachelor and try again at BA FPP next year or some scheme like that. But if I am offered this scheme... What would you do in my situation? Take it or leave it?