Wow this is a crazy scheme and I feel a desperate need to add my two cents!
Some of these MPL schemes with other operators provide a pretty solid salary after training and a good plan as to how you will pay back the loan. This one provides none . If you have to make full repayments whilst working on the low salary that Wizz offer, you will have absolutely no money to live on whatsoever! You will be insolvent for many years to come, even on a good salary it will suck!
YOU WILL BE WASTING THE BEST YEARS OF YOUR LIFE!
Central and Eastern Europe are cheaper to live in than the 'west', however if you come from the 'west' and want to continue with you Western European lifestyle then it will cost you around 2000 euros per month with a car (which you will need to get to the airport for those early starts!). This takes into account a good one bedroom apartment, a small car, regular trips back to the UK, one beach holiday per year and a good social life. This is my experience from previously living in the region (I don't work for Wizz). This would be after loan repayments.
My attention now turns to the price of this course. I want anyone applying to this scheme to have a long think about what they could do with that money! You could easily obtain an fATPL for less than 50,000 euros in Poland with the right planning. You could also go modular in the UK/US for less than 60,000 euros. The UK in particular has some great modular flight schools such as Stapleford which will provide you with world class training. Doing your PPL and hour building in the USA is also great fun, something your be missing out on with this scheme.
At the end (of a modular course) you will still have at least 80,000 euros to play with! You can then go and get an instructors rating, build some experience, gain some contacts and work your way up the ladder (it worked for me). Alternatively you could go and be a Bush Pilot for a few years (also great fun). If your so boring that your dead set on going straight into the airlines then you could purchase a type rating immediately. Even though this is something that I don't recommend, it would still be way cheaper than this scheme! A B737 or an Airbus rating can be purchased for less than 20,000 euros. Another alternative would be to simply wait for a better scheme to open, there's now quite a lot of these schemes around!
The market is gradually improving for Pilots at the moment, if I was to start now I would go modular and keep my debts low. There will be entry level jobs around in two years time for those that have taken the modular route, I'm sure of that.
If your considering this scheme and need any advice from a current Professional Pilot about how to become a Pilot without becoming a slave, then please feel free to send me a private message. I would not wish this scheme on anyone!
