Stereolab
26th Jan 2005, 15:46
I understand several airlines are hiring non-typed FO's w/ a training bond ($30K-$50K I think). My understanding of training bonds is they transfer your tickets over to local regs via training in a small twin, then type you in the heavy, and require you to work for set number of years, say 3-5 years per the contract. If you leave, then you owe them the money. My question is: do they set you up with a bank for the loan guarantee or do you have to get the money yourself (i.e. set up your own loan through a bank)?
In the States back in the late 90's there were two PFT type of scenarios,
1. You sign a loan through a bank that the airline has set up and you pay off the loan each month (just like a student loan).
2. You sign a bond that requires you to work a set number of years per the contract, but no money is required up front (airline sets up the bond).
From looking at the websites, it seems CAL, SAI and EVA apply scenario #2. People have mentioned you have to bring $30K to the table for the job. I've researched this on pprune and there seems to be lots of different answers to this subject. I'm sure there are many of us who would like to clear up this issue.
Again, I've already researched this on pprune...just looking for the straight answer on whether FO's have to pay $30K for the job (i.e. loan) vs. a bond (i.e. no payment unless you jump ship).
Just to clarify, I'm not going to pay for my job...I'm just trying to get the facts straight.
Thanks in advance!
In the States back in the late 90's there were two PFT type of scenarios,
1. You sign a loan through a bank that the airline has set up and you pay off the loan each month (just like a student loan).
2. You sign a bond that requires you to work a set number of years per the contract, but no money is required up front (airline sets up the bond).
From looking at the websites, it seems CAL, SAI and EVA apply scenario #2. People have mentioned you have to bring $30K to the table for the job. I've researched this on pprune and there seems to be lots of different answers to this subject. I'm sure there are many of us who would like to clear up this issue.
Again, I've already researched this on pprune...just looking for the straight answer on whether FO's have to pay $30K for the job (i.e. loan) vs. a bond (i.e. no payment unless you jump ship).
Just to clarify, I'm not going to pay for my job...I'm just trying to get the facts straight.
Thanks in advance!