Health Warning
Thread Starter
Join Date: Jun 2001
Location: UK
Posts: 99
Likes: 0
Received 0 Likes
on
0 Posts
Health Warning
I'm not normally one to start rumours running about the financial health of companies, not least because they can become self-fulfilling prophecies, and I have many friends still working in this industry. However, I am aware that a major UK flight training organisation is exhibiting all the usual signs of difficulty, and that many of its trainees will unwittingly be at risk.
When FTOs go bust, they have a nasty habit of taking some of their customers' money with them; sometimes a lot. It has happened time and time again in the past. The obvious way a student can avoid the risk is to avoid paying large sums up front, and make payments via credit card.
However, in the case of this training company, that may prove challenging to arrange, as their standard payment schedule involves a significant element of advanced payments, and I doubt that payment by credit card is practical.
My information comes from several independent sources and is, I believe, quite credible. However, I'm not going to name names, just in case I'm wrong, and yet precipitate what I believe is happening. There are enough clues in this post for the well informed to come to their own conclusions.
My advice, if you are hell bent on starting training with a similar sounding major flight training organisation, is to avoid exposing yourself to this type of risk by refusing to sign up to the standard payment profile. It is difficult, when you have been offered a place on a scheme, to get on your high horse; you may feel that you are showing a lack of commitment. A great tactic would be to use a third party (e.g. your loan guarantor) to act the 'bad guy' and insist on a more reasonable payment profile that limits your risk. (e.g. "I'd be quite happy to sign, but my Dad insists on a more reasonable payment profile...") From what I can gather from the scheme in question you would literally be £tens of thousands at risk at the worst point.
Given that the Company in question is (like everyone else in the industry) feeling the pinch, don't worry about being hard nosed about this; they need you more than you need them. Whatever it says in the glossy brochure, there is no scheme in existence that guarantees you a job at the end, they are all the same; you are just paying for your training and hoping for a chance if and when you graduate. They, on the other hand, are struggling to stay afloat and are desperate for your cash.
You have been warned; do not expose yourself financially. I hope like hell for the sake of the staff and student
s I am not back here in a few weeks saying 'told you so'.
Final thought. If you are already training with a similar sounding organisation, it is still not too late to renegotiate your payment profile. What are they going to do; kick you off the course and lose your revenue? No chance. Again, use the good guy/bad guy tactic to take the heat off you personally.
When FTOs go bust, they have a nasty habit of taking some of their customers' money with them; sometimes a lot. It has happened time and time again in the past. The obvious way a student can avoid the risk is to avoid paying large sums up front, and make payments via credit card.
However, in the case of this training company, that may prove challenging to arrange, as their standard payment schedule involves a significant element of advanced payments, and I doubt that payment by credit card is practical.
My information comes from several independent sources and is, I believe, quite credible. However, I'm not going to name names, just in case I'm wrong, and yet precipitate what I believe is happening. There are enough clues in this post for the well informed to come to their own conclusions.
My advice, if you are hell bent on starting training with a similar sounding major flight training organisation, is to avoid exposing yourself to this type of risk by refusing to sign up to the standard payment profile. It is difficult, when you have been offered a place on a scheme, to get on your high horse; you may feel that you are showing a lack of commitment. A great tactic would be to use a third party (e.g. your loan guarantor) to act the 'bad guy' and insist on a more reasonable payment profile that limits your risk. (e.g. "I'd be quite happy to sign, but my Dad insists on a more reasonable payment profile...") From what I can gather from the scheme in question you would literally be £tens of thousands at risk at the worst point.
Given that the Company in question is (like everyone else in the industry) feeling the pinch, don't worry about being hard nosed about this; they need you more than you need them. Whatever it says in the glossy brochure, there is no scheme in existence that guarantees you a job at the end, they are all the same; you are just paying for your training and hoping for a chance if and when you graduate. They, on the other hand, are struggling to stay afloat and are desperate for your cash.
You have been warned; do not expose yourself financially. I hope like hell for the sake of the staff and student
s I am not back here in a few weeks saying 'told you so'.Final thought. If you are already training with a similar sounding organisation, it is still not too late to renegotiate your payment profile. What are they going to do; kick you off the course and lose your revenue? No chance. Again, use the good guy/bad guy tactic to take the heat off you personally.
Join Date: Jan 2003
Location: Northampton
Posts: 516
Likes: 0
Received 0 Likes
on
0 Posts
I just felt a great disturbance in the Force, as if millions of voices cried out in terror and were suddenly silenced.
Thank you
Best of luck to the CTOxfordair Training Europe students who are possibly affected by this. That's also genuine.
Tough times...
Join Date: Mar 2007
Location: My
Posts: 84
Likes: 0
Received 0 Likes
on
0 Posts
Process of elimination
Seeing that OAA are recruiting, are recruiting for airline schemes and have courses booked up for at least 6 months, have no halls of residence available for 10 months (as they are fully booked) and are backed be GECAT. I'm going to take a stab in the dark and say that's one you can remove from the suspect list.
However, I do know people who have been working in warmer climates are looking for jobs in the UK.
However, I do know people who have been working in warmer climates are looking for jobs in the UK.
Its no secret that Jerez has seen instructors made redundant this year.
No idea which FTO's might be in financial trouble but history does tell us that in every recession some FTO's do go bust and students often lose as a result.
There is no need to pay thousands in advance. If a school insists tell them you will pay as you go or go elsewhere. You're a customer, not a student. Wear the trousers.
WWW
No idea which FTO's might be in financial trouble but history does tell us that in every recession some FTO's do go bust and students often lose as a result.
There is no need to pay thousands in advance. If a school insists tell them you will pay as you go or go elsewhere. You're a customer, not a student. Wear the trousers.
WWW
Join Date: Dec 2009
Location: Somewhere between Avant and Vaton.....usually
Posts: 338
Likes: 0
Received 0 Likes
on
0 Posts
I completely agree with WWW. Also If you are going to commence flight training, my advice is go modular(at the moment anyway). But each to their own.
Join Date: Sep 2006
Location: A laser guided drone
Posts: 598
Likes: 0
Received 0 Likes
on
0 Posts
Giving over big chunks of cash to an integrated school is a big no no right now. You are asking for trouble. Was speaking to a mate at one of the main integrated schools, and while nothing has been confirmed yet he reckons the sh!t is about to hit the fan.
