PPRuNe Forums - View Single Post - The CTC Wings (Cadets) Thread - Part 2.
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Old 23rd Jan 2017, 13:32
  #4722 (permalink)  
Officer Kite
 
Join Date: Jun 2014
Location: Earth
Posts: 663
That 69,000 is a part of your training costs, it is gone once you give them that cash, be under no illusion and don't be swayed by whatever spin they put on it.

How it works (or at least used to) is the 69,000 'bond' is transferred to whatever airline you start to work for, who then pay you back 1,000 of it every month. The catch is that the salary your airline put you on is reduced by 12,000 a year compared to what it should be for a year 1 direct entry first officer.

As the 1,000 they pay back is tax-free, you essentially have 12,000 of what your annual salary should have been coming into you tax-free, therefore the sole benefit is avoiding tax on 12,000 of your income per year.

Last edited by Officer Kite; 23rd Jan 2017 at 13:44.
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