End of ATPL bank funding?
 

I've heard recently that HSBC have decided to stop funding OAA courses and I know that Barclay's have now ceased to lend for the Ryanair TR. There are also rumours of other banks very rapidly running away from all aviation related loans. Does this spell the end for the likes of the APP programme at OAA, given that very, very few people will be able to afford it on their own?
Anyone got any other information on this?

Im in contact with HSBC about a loan for cabair's first officer direct course and they havnt said anything about them not doing it to me....

I wod imagine that if they stopped it for this, then they wod have pulled the plug on OAA to.

Bad times but it wnt affect trainees until after graduation when looking fior a job in which time, the ecnomy could have recovered (unlikely), or also got alot worse which looks more likely at the minute....

The only reason im goin ahead is because ive a damm good contingency plan, thank god i went to uni.....

Quite interested to find out what your contigency is if thats good! if you dont mind sharing....

Please God (or other deity of your choice) don't let it be as a spelling teacher...

Well, my contingency plan is to work as a mechanical engineer , and if you take a look at justengineers.com, you'll find loads of engineering jobs with good pay, prob better than F/O's at the minute....its prob one of the few industries that is not affected by the credit crunch at the minute.... Cuurently working as an engineer at mo, and i can say that for sure!!!

Because i spent four hard slogged years crunching maths, my english isnt that good,...

p.s i could join the spelling and grammar police, let me know how to join,,, mayb u might interview me... another contingency plan maybe

:ugh:

Bloody phone text !!!

Maybe the 'Professional' needs to be removed from PPRUNE. I must admit, I've sat reading posts saying nothing but really is there any need for 'txt' language? Even Mozilla has a built in spell checker that's easy to use. I'm not an ace at spelling but it makes it so easy!

U kno wht I mean?!?!?!?! lolz

S88:ok:

good to hear Celtic; i was worried your backup plans were to be working in the investment banking business!!

Yes there appears to be a serious problem with this particular disease in western europe. Doctors have diagnosed it as phone textitis and it is 100% fatal. People usually catch it in their teens and it is highly contagious. Unfortunately there is no cure at present :sad:

Naw Aeropsace, thought I'd stay away, seems like a risky owl business these days,,, not that aviation is any better!!! :)


There always the S & G police though :ok:

Here's a better idea... Use your engineering skills and technical brain to get into the IT industry.

It will be an industry marginally effected as IT is as needed as bakers and bread.

Plus entry salaries are about 20-25K with the everage 37K.

Much more sence! :cool:

Celtic, how far have you come with your certificates and ratings?


Eikido

Anyone want to talk about the subject of the thread? Or shall I just bin it?

naw dnt like computers at all... don't get on to well wit them,, presides composite engineers are getn 27K to 30K and thats just graduates so engineering pays alot better than it used to,, not only that IT may be caught onto by everyone and allof a sudden theres a saturated market... fnk i'll stick wit engineering,,, all i have in IT is an A-level,, dnt think that will get me far as regards jobs!!!!

As i say anything outside of pro-engineer, AutoCAD or IDeas,, I dnt know oh and (PPRuNe)..lol...

im not to sure what you mean eikldo when you say certificates and ratings, all i have is a ppl, and am hopefully starting cabair now at the end of oct.... Thats pretty much it!!!

D O Guerro (mind the spelling), My first thread is related to what you asked only cabair, however there are persistant people within this forum thats demands a Masters degree in english to write... I apoligise for them people if they ruin threads, many of mine have been ruined too....

The banking system is being described as being in panic, turmoil and crisis. What do you think the answer to your question is going to be ???

Reckless unsecured loans are probably going to be first to go if they haven't gone already. Even loans secured on properties are going to be on shakey ground imo as property prices fall. Would you loan someone 60K who has little or no chance of paying the money back ?

i agree wit chris on this on.. I would say unsecured loans have went out the window a while ago...!! LARGE Secured loans of 70K is what the bank makes it profit on, so I dnt think they will throw it away as quickly...

p.s its funny when i was talkn to hsbc first it was only zoom had gone bust,,, two days later XL... i laughed think back...

theres no place for people lik you on the forum you mean,,, all people want to do is talk about aviation the matter what language is used...

think there is a CHIP on your shoulder buddy!!!!!

Celtic, that is what i was wondering. I don't even have a PPL at the moment but i'm on it. I'm consdering taking up to ATPL when the markets gets better.

I'm also working as a Mechanical Engineer atm. Rated on UGS Solid Edge :}. Have you heard about Solid Edge ST?


Regards
Eikido

They do not make most of their cash on large, secured loans. They make it on many small, risky credit card loans, fees, mortgages and overdrafts.

There is little to no cash for banks to find funding for loans to extend to people looking to train as pilots. Today, interbank overnight rates doubled - banks do not want to lend to each other at all, and will not lend to wannabes on a large scale for quite some time.

You are lucky to have secured a loan in the present climate - if you have a funding offer from someone, hang onto it.

You are of course welcome to argue...

eilklo.. yeah working as a CAD engineer myself,, i work on Pro-E (pro-engineer), pretty much the same as Solid Edge tho, mainly the same fucntions... Its quite handu to say the least.....lol...

I specilised though in composite in final year so im lookn maybe to change jobs for the minute to see if i can earn a bita cash,, they seem to pay well... im glad though i did engineering are you not??? PLenty of jobs seem to be comnig... might do the same as youself... ppl really good fun to learn... i enjoyed it.. just did it at the local flying club!!!


----Im not sure at all, i just thought thats what they made their money on, not a expert by any matter of means so wnt argue!!!! ,,, the interest goes up with the incresing size of loan, so money is made when people pay back around 100k for a 70K loan mayb more than a small amount of a small personal loan, so banks make profit of large loans,,,basic maths i reckoned thought that where the profit was made but im prob wrong....

whos to say tho in this climate,,, not even the experts have a clue whats going on!!!