Airline bond

[PosClimb]

With all the talk about pilot shortages, I'm wondering what, if any companies, are still requiring cash up front for a bond. I've heard of one major company wanting $30,000 up front, but that's it.

Anyone else doing this too?

[MIKECR]

Theres loads of airlines at it, been doing it for years. I know of a very large UK turboprop airline that are away to start doing it now aswell. You will be paying for your own TR, the company will no longer pay for it and contract you to a bond

[Finals19]

You will be paying for your own TR, the company will no longer pay for it and contract you to a bond

OK, so they are bonding you. So from that we can take it to mean one of two things?:

a) They organise the finance for you, you sign it in your name and they repay on a monthly basis money to you to cover the bond?

b) You organise the finance independantly and they include a monthly payment in your salary to cover the repayments of the loan?

If you leave before term, you are liable to pay the remainder of the finance/loan?

Just wanted to check that's what you meant. :)

[MIKECR]

Sorry, what I meant was - there is no bond, you pay the TR yourself. The airline I speak off used to pay for the TR, bonded over 3 years. Now they wont do it, too many people doing a disappearing act from them.

[r2_unit]

MIKECR,

The turbo-prop company you're talking about - did they have a large advertisment in Flight International the other day??

How are you getting on with your MCC??

R2

[Evilbob]

Since it's on the subject at hand, I will refrain from starting a new thread.

The bmiBaby online application form asks if you would be willing to self fund your type rating. I would like to know what they mean by this.

bmi regionals definition of paying for your type rating is £2000 on commencing training and the rest out of your salary over 5 years. Are bmiBaby operating the same type of scheme or is it an all the money upfront payment?

Thanks

Evilbob

[ramshorn]

Hi
A friend of mine has just started at BMI Baby and he is paying £2000 up front and the rest from his salary for 3 or 5 years.
:ok:

[MIKECR]

r2,

Different company, if its Logan your referring to. I have my MCC booked for next month(17th), just waiting on the manuals coming through the post. Looking forward to it, the last hurdle thankfully! You??

[Finals19]

A friend of mine has just started at BMI Baby and he is paying £2000 up front and the rest from his salary for 3 or 5 years.


This is the way it should be, if we are have no choice in the matter. I see no problem with somebody being bonded in for say 3 years. If they accept the job offer, it means they have made a reasonable assessment of what the company can provide for them career-wise, at least over the period of the bond. Why, oh why, somebody would chose to b***er off before the bond term and have to shell out extra money is beyond me (alright, there is always an exception) This is part of the reason why companies are now expecting you to foot the bill for your entire TR. That and the fact that as soon as the airlines got a whiff of the idea that the fresh and keen guys are prepared to pay for it, they made a logical business decision and capitalised upon it.

Great for those who can afford a TR. A terrible shame for those who cannot.

Anyway, I'll shut up now as this is opening a can of worms.

[Evilbob]

Thanks Ramshorn.

Now which box too tick? Probably the only question on the whole of the application form that definately has a wrong answer :}

[r2_unit]

MIKECR,

I was thinking of flybe - as i understand things at the moment you're bonded for £13k over 3yrs. Leave before 3yrs = cough up £13k. Stay the 3yr term = not required to pay anything.

About to book my MCC with Oxford - bit more wedge than MF but 737 sim should be a laugh.:ok:

R2