Repayment of training for NJ Europe

[free_hat]

OK, quick and simple one:

Ive been on the fence regarding CTC and NJ for a while now, but I still have one (well, actually two) remaining questions:

1: In NJ if you are in training and NJs go under, are u liable for training costs?
2: If you complete training as normal, settle in to NJs, then they go under say 1 year after you have been flying and you lose your job, are you still liable for training costs even though NJ have taken ownership of the bond?

Thanks!

[Adios]

Which programme are you referring to in regards to NetJets? I don't think they do anything with CTC. Are you referring to choosing between CTC Wings and whatever airline that gets you to vs. OAA's NetJets Cadet programme?

If it's OAA, then you misunderstand the terms pretty badly. There is no bond for NetJets to take ownership of, as the cadets pay for their training. Once an FO, they can get 20,000 Euros of their salary tax free if they live in the UK. This refunds about 1/3 of the training cost, but the refund comes from the UK Exchequer as tax relief, not from NetJets. If they fold while you are in training, you foot the bill entirely. If it is after you start working for NetJets, you foot the bill for OAA training, but you will have a free type rating out of it.

I think it is highly unlikely they will go out of business. Their customers have a five year contract and unless they all go bankrupt, they will keep flying their hours. CTC on the other hand is even now placing many graduates in a lengthy hold pool. It's a tough call, but I don't think NetJets would have just placed another $1Billion aircraft order if they were struggling to sell aircraft shares.

[nich-av]

Netjets can still refuse these pilots if they don't need them anymore.
They can also put them on a waiting list if they want to.

We ll see when the first guys graduate out of this scheme. (next year?)