blue_ashy
7th Nov 2012, 13:13
Just found that Swiss are offering an Ab initio training scheme open to CH and EU residents, my German is decent so hopefully i'm reading it correctly but i'm having a little trouble understanding their financial arrangements.
Your application (http://www.swiss.com/web/EN/career/career_entry/cockpit/Pages/pilot_ab_initio.aspx)
Click 'Funding your training' on the right. The document is in German by the way!
My understanding is that the total cost is 130,000 Swiss Franks or to me about £86,000 of which 10,000 CHF is paid by the candidate as an up front cost, 75,000 CHF is made up as an interest free loan to the pilot.... Now does that mean Swiss will loan the candidate 75,000 CHF as an interest free loan for example paid out of your salary or similar or does it mean a BBVA type route? The final part is a contribution by Swiss of 45,000 CHF...
To me in pounds that works out as total cost of around £86,100, £50,000 of which is paid by the loan (however that works), leaving the candidate having to find only about £7000. The loan repayment is 6 years, meaning a repayment of £8333 a year. Swiss will pay a further £30,000 without the requirement of repayment?
Surely if my understanding is true this has to be the best integrated ab initio airline scheme out there? I've never seen any airline willing to put money on the table or even offer loans for training, usually the candidate is the one doing the dirty work.
Does anyone have any experience with the Swiss scheme?
Your application (http://www.swiss.com/web/EN/career/career_entry/cockpit/Pages/pilot_ab_initio.aspx)
Click 'Funding your training' on the right. The document is in German by the way!
My understanding is that the total cost is 130,000 Swiss Franks or to me about £86,000 of which 10,000 CHF is paid by the candidate as an up front cost, 75,000 CHF is made up as an interest free loan to the pilot.... Now does that mean Swiss will loan the candidate 75,000 CHF as an interest free loan for example paid out of your salary or similar or does it mean a BBVA type route? The final part is a contribution by Swiss of 45,000 CHF...
To me in pounds that works out as total cost of around £86,100, £50,000 of which is paid by the loan (however that works), leaving the candidate having to find only about £7000. The loan repayment is 6 years, meaning a repayment of £8333 a year. Swiss will pay a further £30,000 without the requirement of repayment?
Surely if my understanding is true this has to be the best integrated ab initio airline scheme out there? I've never seen any airline willing to put money on the table or even offer loans for training, usually the candidate is the one doing the dirty work.
Does anyone have any experience with the Swiss scheme?