Finance for CTC
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With the intention of avoiding "thread drift" can anyone who has been in touch with CTC either by phone / email .. or by attending phase 2/3/4 in the past 2 weeks have solid feedback as to the situation ?
I understand and appreciate any such funding must now be secured.. but does this not comprimise the "wings cadet" scheme vs the "iCP" scheme. . do they both not become the same thing ?
OK.
Wings scheme - CTC source the bond as long as you can secure it against a property or the like..
iCP programme - ypu have to go to a bank and secure it against the same property or the like ...
Are people (as I am) expecting some kind of announcement from CTC in the coming weeks about the two 'products' on offer and the different requirements, structures, availability etc.. between the two, if there are '2' products still on offer that is . .
CTC in a money and risk form, has become a one product outfit in my opinion - a good one in many respects I don't disagree, but still a very much one product outfit . .
Cabair / Oxford can still offer a modular option if a UK wannabe prefers, somethings which is quite difficult for CTC to offer whilst the main section of training is based in NZ.. a bit far for your average UK based modular wannabe to nip over and conduct x/y/z bits of training and tests as and when you can afford !
All opinions and feedback welcome..
I understand and appreciate any such funding must now be secured.. but does this not comprimise the "wings cadet" scheme vs the "iCP" scheme. . do they both not become the same thing ?
OK.
Wings scheme - CTC source the bond as long as you can secure it against a property or the like..
iCP programme - ypu have to go to a bank and secure it against the same property or the like ...
Are people (as I am) expecting some kind of announcement from CTC in the coming weeks about the two 'products' on offer and the different requirements, structures, availability etc.. between the two, if there are '2' products still on offer that is . .
CTC in a money and risk form, has become a one product outfit in my opinion - a good one in many respects I don't disagree, but still a very much one product outfit . .
Cabair / Oxford can still offer a modular option if a UK wannabe prefers, somethings which is quite difficult for CTC to offer whilst the main section of training is based in NZ.. a bit far for your average UK based modular wannabe to nip over and conduct x/y/z bits of training and tests as and when you can afford !
All opinions and feedback welcome..
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Exactly.. as I said no 'normal' economic graph is one directional ...
Due to inflation, national economic development, amongst a whole load of other factors, in general, our (UK) economy grows, but within; dips, dives, rises, reaches, drops, booms, dips again, rises, then crashes, etc...
fellow wannabe's.. listen !!!! take up the pastime of watching standup comedy for the following reasons:
a) its fun
b) its fairly inexpensive
c) it teaches you timing !
Due to inflation, national economic development, amongst a whole load of other factors, in general, our (UK) economy grows, but within; dips, dives, rises, reaches, drops, booms, dips again, rises, then crashes, etc...
fellow wannabe's.. listen !!!! take up the pastime of watching standup comedy for the following reasons:
a) its fun
b) its fairly inexpensive
c) it teaches you timing !
Last edited by One9iner; 30th Sep 2008 at 21:41.
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Reality 09/2008 till .....?
A friend of mine is one of 22 EJ CTC cadets who have been told to pack their bags - the 6 months of £1000 CTC "salary" after type rating is coming to an end and eJ are not taking them on full time as FOs.
So after the full course and some £100k expenditure at least they will have 300 to 400 hrs on type and a transferable license ( not MPL !) but with low total time who in EU will hire them in this economic climate? And who will pay the rent let alone interest on their loans?
I wish them all success in securing flying jobs again soon. But wanabees be fully aware before you sign up for these schemes - like the old financial markets advertising - share prices go DOWN as well as UP !
So after the full course and some £100k expenditure at least they will have 300 to 400 hrs on type and a transferable license ( not MPL !) but with low total time who in EU will hire them in this economic climate? And who will pay the rent let alone interest on their loans?
I wish them all success in securing flying jobs again soon. But wanabees be fully aware before you sign up for these schemes - like the old financial markets advertising - share prices go DOWN as well as UP !
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Good posts Topslide, and I completely agree about having the mentality of think it's bad, times by ten, then treble and that's about right.
I'm personally about to start on the CTC ICP scheme, I'm fully aware the economy is pretty bad at the moment, but as you said, the whole industry / economy is cyclical.
Just to clarify, from what I understand, the CTC ICP scheme treats you exactly as a 'wings' cadet, but instead of simply transferring to the ATP / AQC course at the end you have to either re-take the part you missed on initial assessment (mine was the maths by 2 q's) or if it is not even open then doing your MCC somewhere else, I'm assuming ill be popping up to Oxford for that.
I think the main thing about starting training now is that we're aware, we know that the illusive dream of a big shiny jet that says, BA, Ryanair, Easyjet may be in the distance for abit. And if you're not aware and have no backup, then you should seriously sit down for a minute and work out what you're going to do should it all go wrong.
I personally feel fairly positive about the whole situation, I think it is good training in a downturn, it will go up, it's a matter of when? Who's about at the end? Where the Pilots go from the Airlines that didn't make it. Then hopefully some of us freshies! (he says without having an ATPL f) should be able to get their foot on the ladder.
I think it's all about being realistic and being prepared to go back to what you did before flying for abit, but never giving up. I won't!
Best of luck to everyone!
Jim
I'm personally about to start on the CTC ICP scheme, I'm fully aware the economy is pretty bad at the moment, but as you said, the whole industry / economy is cyclical.
Just to clarify, from what I understand, the CTC ICP scheme treats you exactly as a 'wings' cadet, but instead of simply transferring to the ATP / AQC course at the end you have to either re-take the part you missed on initial assessment (mine was the maths by 2 q's) or if it is not even open then doing your MCC somewhere else, I'm assuming ill be popping up to Oxford for that.
I think the main thing about starting training now is that we're aware, we know that the illusive dream of a big shiny jet that says, BA, Ryanair, Easyjet may be in the distance for abit. And if you're not aware and have no backup, then you should seriously sit down for a minute and work out what you're going to do should it all go wrong.
I personally feel fairly positive about the whole situation, I think it is good training in a downturn, it will go up, it's a matter of when? Who's about at the end? Where the Pilots go from the Airlines that didn't make it. Then hopefully some of us freshies! (he says without having an ATPL f) should be able to get their foot on the ladder.
I think it's all about being realistic and being prepared to go back to what you did before flying for abit, but never giving up. I won't!
Best of luck to everyone!
Jim
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or if it is not even open then doing your MCC somewhere else
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unsure
Hello guys,
Been busy reading through all theses threads today trying to make a decision as to what to do, taking all advise, opinions on board etc.
I recently applied for the CTC wings and have been asked to attend phases 2 & 3 of the wings application process in Southampton. What I am considering doing is paying the £188.00 just to see if I am successful in the initial acceptance process to then give myself the option/more difficult decision of this £60k + secured loan to continue with the training over the next two years when hopefully current market conditions have changed more favourably.
any thoughts?
Been busy reading through all theses threads today trying to make a decision as to what to do, taking all advise, opinions on board etc.
I recently applied for the CTC wings and have been asked to attend phases 2 & 3 of the wings application process in Southampton. What I am considering doing is paying the £188.00 just to see if I am successful in the initial acceptance process to then give myself the option/more difficult decision of this £60k + secured loan to continue with the training over the next two years when hopefully current market conditions have changed more favourably.
any thoughts?
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Aerospace 101, I think that's part of the risk in taking the CTC course, from what I believe (I'm not the oracle) the AQC / ATP part is the type rating / MCC, but and I say but it's abit open to debate because no ICP candidate has actually finished the course yet. I think the nearest is about 6 months off.
jamespouchy - if you can find a bank left to give you the 60k loan then good luck. I know HSBC have stopped and the only options they're offering are one secured against someones house which you have to start paying back immediately or a mortgage, which again you have to start paying back immediately.
I would attend the assessment for the experiences though and you will also meet some good guys and possible contacts.
Jim
jamespouchy - if you can find a bank left to give you the 60k loan then good luck. I know HSBC have stopped and the only options they're offering are one secured against someones house which you have to start paying back immediately or a mortgage, which again you have to start paying back immediately.
I would attend the assessment for the experiences though and you will also meet some good guys and possible contacts.
Jim
