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Paid training courses? (Training bonds?)

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Paid training courses? (Training bonds?)

Old 12th Jun 2014, 17:39
  #1 (permalink)  
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Join Date: Jun 2014
Location: London
Posts: 3
Arrow Paid training courses? (Training bonds?)

As I do not have the money to pay for an 80,000 license now or anytime soon, I was thinking of applying for cadet schemes. It seems that all cadet schemes in the UK (and Europe I guess) give financial assistance in the form of monthly installments, segments etc. However even with this I will be unable to pay. Loans are out of the question (owning a mortgage or household in London would mean you would probably have the funds to pay out the whole training costs immediately).

What crazy airline will give free licenses & jobs in this economy right? However I have heard of these 'training bonds' (please correct me if I am not using the correct term) which require no payment and provide 'free' training and then you must pay back all the money (with some sort of interest?) when you come into employment with the chosen airline, even then some say that the salary isn't enough to cover the cost of the training previously given.

I have done some further research into this, however it all seems to be vague, but Cathay Pacific run something a scheme similar to this. Many have complained that they have terrible working conditions, failing medical tests due to stress, etc. I personally don't mind this, however it requires you to be a Hong Kong Citizen which is just another nightmare altogether.

So what I'm asking is, is there a scheme similar to this? Perhaps in the UK or somewhere else where I will be able to apply? Are there any sites/newsletters that I can apply for which keep me up to date on these schemes? Anyone offering to clear up pilot cadet programmes in general? Or is there some other form of financial aid that could work out? I understand that there is no such thing as a 'free' license.
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Old 12th Jun 2014, 23:06
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Join Date: May 2014
Location: U.K
Age: 30
Posts: 3
Hi,

Long time lurker, first time poster - So I thought it would be useful to 'get off the mark' with a post that shares some of my own research (I'll stay objective).

Post 9/11 and for various other reasons (lower profit margins, huge number of low hour pilots and so on), fully sponsored schemes ("free") no longer exist. The closest (and arguably the best) thing available to us wannabes is the British Airways Future Pilot Scheme (FPP). Under certain circumstances (They don't outline the T&Cs unfortunately), BA will stump up the security for a BVA loan.

It is about as good as you will get in the current climate. However, it is extremely competitive with multiple thousand applicants competing for tens of spaces.

Last year (and i believe the year before too), the scheme opened around October / November. No news on the state for the coming year, but I think people would be surprised if it wasn't running this year too (although, you never know...) since BA have stated, in the past, they will be actively hiring a large number of pilots (Both experienced DEP and low hour cadets) up to 2016.

Pop over to CTC and sign up for the newsletter. BA also have a website dedicated to this scheme although it's not current (They may change the T&C's). You may as well give it a try to be honest! EDIT: Also have a look at FlightDeckFriend.com as they have a little list of cadet schemes and some other bits of info that could be interesting (Check out the state of advertised low hour pilot jobs and GA jobs)

The other cadet schemes* open to us are all self funded (that I'm aware of). You need to stump up the cash from a secured bank loan (BVA again). The training costs a tad more than the standard integrated route but you do have a better chance of employment (Note: better chance. It is NOT a guaranteed job. Airline needs can change or you may fail your sim check (for example) and not be eligible for the CTC/OAA refund package leaving you very high and very dry).

Also take a look at the integrated vs modular thread. An awful lot of good information in that thread.

*With the exception of the Flybe one which Flybe pay 23k of the training costs - however, be warned... I've read horror stories on this site where they, one year, had to lay off the cadets they selected leaving them with a huge dept and an almost useless licence (MPL != (F)ATPL although I guess it would be possible to convert). Not sure how that story ended and if anyone actually went bankrupt as a result.

Good luck!

Last edited by dbowler92; 13th Jun 2014 at 00:08.
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