Bank loans
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Bank loans
Hello,
Has anyone here managed to get a bank loan for a type rating?? I am thinking of the A320 and a line training package (500hr). I will have an unrestricted ATPL once I have the rating. I have no assets for co-lateral, and would approach the bank for a careers development loan. I'd ask for around 20K and put in 10K myself. Just wondering if it has worked for anyone else. If so, how did you approach the bank and which bank was it?
Thanks,
Has anyone here managed to get a bank loan for a type rating?? I am thinking of the A320 and a line training package (500hr). I will have an unrestricted ATPL once I have the rating. I have no assets for co-lateral, and would approach the bank for a careers development loan. I'd ask for around 20K and put in 10K myself. Just wondering if it has worked for anyone else. If so, how did you approach the bank and which bank was it?
Thanks,
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I don't wish to come across as cynical, but if you find a bank willing to pay for that , at this moment, please let us all know.
The problem is , 500hr = exactly that, 500hr. . . then you will be out of the door & they will take someone else's money for the next 500hr.
Would you like to hazard a guess how many A320 rated F/O's with MORE than 500hr on type are unemployed at the moment?
Maybe worth asking yourself the question guy ?
For my money you would be better concentrating ( if you must pay. . . which I accept in the current market you may have to do ) on the Ryanair's of this world, who at least give an open ended contract at the end, rather than Easy Jet , who AFAIK are only offering 6mths. Next Winter will come along quick enough and your 500hrs won't help one little bit. In Ryanair you may have a very slack winter, but you will still be ( in a manner of speaking) in a job.
Just a thought before you land yourself in debt that you may not be able to service 500hr later.
The problem is , 500hr = exactly that, 500hr. . . then you will be out of the door & they will take someone else's money for the next 500hr.
Would you like to hazard a guess how many A320 rated F/O's with MORE than 500hr on type are unemployed at the moment?
Maybe worth asking yourself the question guy ?
For my money you would be better concentrating ( if you must pay. . . which I accept in the current market you may have to do ) on the Ryanair's of this world, who at least give an open ended contract at the end, rather than Easy Jet , who AFAIK are only offering 6mths. Next Winter will come along quick enough and your 500hrs won't help one little bit. In Ryanair you may have a very slack winter, but you will still be ( in a manner of speaking) in a job.
Just a thought before you land yourself in debt that you may not be able to service 500hr later.
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I wouldn't waste your breath Capt. No-one will listen cos they don't want to believe it!
It's like the kid who wants to put his hand in the pretty fire. No matter how many times you tell him it will burn him he doesn't listen until he puts his hand in it and screams "that hurts!"
So let them borrow borrow borrow and add to the ranks of the desperate impoverished wasted lives that make up aviation!
It's like the kid who wants to put his hand in the pretty fire. No matter how many times you tell him it will burn him he doesn't listen until he puts his hand in it and screams "that hurts!"
So let them borrow borrow borrow and add to the ranks of the desperate impoverished wasted lives that make up aviation!
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"ranks of the desperate impoverished wasted lives that make up aviation!"
Wow, I think you need help. PM me for some councelling advise if you want. In the meantime, I have around 5600 hours, mainly light twin but some medium turbine SD360(long time ago), and I'm off to fly a Cessna210 around the African bush for a few months. And I have a beautiful daughter, and it's a sunny day and I'm not hungry. Unlike some of you sceptical and depresssed ranters, I have a positive outlook on life and don't feel that the world owes me a living.
Wow, I think you need help. PM me for some councelling advise if you want. In the meantime, I have around 5600 hours, mainly light twin but some medium turbine SD360(long time ago), and I'm off to fly a Cessna210 around the African bush for a few months. And I have a beautiful daughter, and it's a sunny day and I'm not hungry. Unlike some of you sceptical and depresssed ranters, I have a positive outlook on life and don't feel that the world owes me a living.
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Yes you have a great life so don't ruin it by paying to fly passengers - after the interest charges it will cost more than a few 1st class tickets for your family and depending on the operator you'll have to bring your own tea bags and sandwiches.
Paying for a type rating is one thing but line flying?! Try to be patient - things will get better and airlines still exist that pay for both type and line training.
Enjoy Africa!
Paying for a type rating is one thing but line flying?! Try to be patient - things will get better and airlines still exist that pay for both type and line training.
Enjoy Africa!
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Yeah good luck to you with your 210. I am just trying to be real with this.
I don't have a daughter and I am hungry and I spend all day everyday trying to find work.......for months now. I am not a fresh CPL either. I am decades into this now with all sorts of experience.
I need a job not help! But if this goes on much more you may be right!
And then I see so many guys borrowing so much money that will guarantee them never being a home owner to fund this career and my heart just sinks.
Every "professional" pilot that is prepared to borrow and pay for a rating and then pay for line training and then pay for flying for their so called employer is indirectly making my standard of living worse and I don't appreciate that!
I don't have a daughter and I am hungry and I spend all day everyday trying to find work.......for months now. I am not a fresh CPL either. I am decades into this now with all sorts of experience.
I need a job not help! But if this goes on much more you may be right!
And then I see so many guys borrowing so much money that will guarantee them never being a home owner to fund this career and my heart just sinks.
Every "professional" pilot that is prepared to borrow and pay for a rating and then pay for line training and then pay for flying for their so called employer is indirectly making my standard of living worse and I don't appreciate that!
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Hi anotherdam
Lots of advice from expierienced pilots.
HSBC are one of the few banks that may help you, however they will probably want security or somebody to sign as garentee for you.
There is a lot of unemployment right now and the situation is not improving or likely to.
Maybe instructing could be an option for you.
I wish you well with your future plans.
Lots of advice from expierienced pilots.
HSBC are one of the few banks that may help you, however they will probably want security or somebody to sign as garentee for you.
There is a lot of unemployment right now and the situation is not improving or likely to.
Maybe instructing could be an option for you.
I wish you well with your future plans.
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give your head a shake! your pay for work scheme is undermining this once great profession!....if a company really wants you, they will hire you based on your experience, endorse you at their expense and pay a competitive wage...like most of us that were hired into this career
you will get burned and the banks get richer, and the industry continues to suffer!!
you will get burned and the banks get richer, and the industry continues to suffer!!
Not that I agree with paying for type ratings, etc, but if you were interested in going for the type rating only, FSC at Schipol are advertising a 'sale' at present for 737NG ratings or A320 rating for 15,000 euros. (This is where easyJet do their 737-700 simulator recurrent checks, etc)
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340dog
"your pay for work scheme is undermining this once great profession!....if a company really wants you, they will hire you based on your experience, endorse you at their expense and pay a competitive wage...like most of us that were hired into this career"
When you were 'hired into this career' was it perchance during a period where airlines needed lots of new blood? Did you agree with them that if they did your type rating you would be 'bonded'(enslaved) to them for a period during which time a reduced wage would pay for the rating? Unfortunately the industry seems rather saturated at the moment, so I, like thousands of others, have decided to go to the airlines with the rating, and try our luck that way. Looking at it relatively, I see myself as being enterprising, taking a risk, perhaps an educated gamble. The airlines will hopefully see me as an employee they don't have to invest too much in during these times. You on the other hand, somehow see me as some kind of leech, undermining some noble illusion you have about business and industry and capitalism and the once noble and heroic aviator. Were you to loose your job now (which of course I hope you don't), do you think you would be hired now based on your experience (actually you might well be very experienced and would be hired), because based on my experience now, I won't be hired. That's why I feel I have to do something proactive, or at least look into it.
Thanks to the other replies for your advise.
"your pay for work scheme is undermining this once great profession!....if a company really wants you, they will hire you based on your experience, endorse you at their expense and pay a competitive wage...like most of us that were hired into this career"
When you were 'hired into this career' was it perchance during a period where airlines needed lots of new blood? Did you agree with them that if they did your type rating you would be 'bonded'(enslaved) to them for a period during which time a reduced wage would pay for the rating? Unfortunately the industry seems rather saturated at the moment, so I, like thousands of others, have decided to go to the airlines with the rating, and try our luck that way. Looking at it relatively, I see myself as being enterprising, taking a risk, perhaps an educated gamble. The airlines will hopefully see me as an employee they don't have to invest too much in during these times. You on the other hand, somehow see me as some kind of leech, undermining some noble illusion you have about business and industry and capitalism and the once noble and heroic aviator. Were you to loose your job now (which of course I hope you don't), do you think you would be hired now based on your experience (actually you might well be very experienced and would be hired), because based on my experience now, I won't be hired. That's why I feel I have to do something proactive, or at least look into it.
Thanks to the other replies for your advise.
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adam, Please don't go spending money on a type rating in the hope you will get a job. If you are keen to spend hard earned, or borrowed. Only pay for a rating where you are likely to end up with a job. I know there are lots of folk on your back about this, but it does seem the only way these days. I consider myself lucky, lots of type ratings and never paid for any of them, but it did take me a long time to work my way up to a jet. If I were starting out now, I would be looking to join the Ryanair machine or similar.
As far as a loan goes, I would be amazed if you could borrow for this without lots of security just now. Good Luck to you and all the other gus and girls out there in the cold just now.
As far as a loan goes, I would be amazed if you could borrow for this without lots of security just now. Good Luck to you and all the other gus and girls out there in the cold just now.
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The airlines will hopefully see me as an employee they don't have to invest too much in during these times.
anotheradam...I could take that statement either 2 ways...1, helping an airline during these fiscal times or 2, going with an airline that doesn't care about employees and would rather not invest in their long term future by treating them accordingly!
An airline should be INVESTING in their employees...and not taking advantage of them at this time
anotheradam...I could take that statement either 2 ways...1, helping an airline during these fiscal times or 2, going with an airline that doesn't care about employees and would rather not invest in their long term future by treating them accordingly!
An airline should be INVESTING in their employees...and not taking advantage of them at this time
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"The airlines will hopefully see me as an employee..."
How will they see you as an employee when you are PAYING them?
No. They will see you as a mug who will borrow money you don't have to give them and they will abuse you until the next mug comes along!
You don't know me from Adam, (ha) but as you seem content to see further destruction of your fellow pilots T's & C's without any qualms then perhaps take a moment to think what you are also doing to your daughters' future?
How will she have a secure upbringing when her dad earns nothing, giving it all away so he can peer out of the window of a 320?
Now that is what I call selfish. And you suggest that it is me that needs help??????
Go to Africa. Enjoy your 210 and wait for better times when a job is a job and they pay you!
How will they see you as an employee when you are PAYING them?
No. They will see you as a mug who will borrow money you don't have to give them and they will abuse you until the next mug comes along!
You don't know me from Adam, (ha) but as you seem content to see further destruction of your fellow pilots T's & C's without any qualms then perhaps take a moment to think what you are also doing to your daughters' future?
How will she have a secure upbringing when her dad earns nothing, giving it all away so he can peer out of the window of a 320?
Now that is what I call selfish. And you suggest that it is me that needs help??????
Go to Africa. Enjoy your 210 and wait for better times when a job is a job and they pay you!
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I got offered a job with Easyjet, but they wanted me to pay for TRSS.
I said I could not afford to pay 25k bond plus no guarantee of a base plus 90 per cent salary plus no PAY during training. Thanks though !
So, Off I went and got a job with TCX , with none of that crap, just a wee bond. Low and behold, EasyJet came back to me and said.... hey fella, lets forget that stuff about TRSS , and join us as an SFO on full pay !!!!!!
Don't get me wrong, I think Easy are a superb outfit, and still believe in their business model and flat management structure, but, too little to late.
I went to TCX , great job, great people, treated with (humble) respect and don't regret it.. (easyjet is still a fab company , by the way , I have lots of friends there)
It's hard low timers, but d'ya know what, yer not stupid, broke maybe, I know, I have been there but there are options. I started being Post man Pat flying special delivary to the IOM on Seneca's.... not so long ago either !! good luck,,, respect yourself and blue skies
Don't give up, but you have spent enough lads n lasses
I said I could not afford to pay 25k bond plus no guarantee of a base plus 90 per cent salary plus no PAY during training. Thanks though !
So, Off I went and got a job with TCX , with none of that crap, just a wee bond. Low and behold, EasyJet came back to me and said.... hey fella, lets forget that stuff about TRSS , and join us as an SFO on full pay !!!!!!
Don't get me wrong, I think Easy are a superb outfit, and still believe in their business model and flat management structure, but, too little to late.
I went to TCX , great job, great people, treated with (humble) respect and don't regret it.. (easyjet is still a fab company , by the way , I have lots of friends there)
It's hard low timers, but d'ya know what, yer not stupid, broke maybe, I know, I have been there but there are options. I started being Post man Pat flying special delivary to the IOM on Seneca's.... not so long ago either !! good luck,,, respect yourself and blue skies
Don't give up, but you have spent enough lads n lasses
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..............and we wonder why the (airline) rank and file are continuously bemoaning the erosion of their terms and conditions? For the life of me I just can't imagine what might be contributing to that 
I could (almost) ignore it as not affecting my (our) little part of the industry except now the buggers are starting to leave the airlines, come to bizjets and bring their odious practices with them.
At some point in the future when people pick over this industry and wonder where things went wrong for the employees right up there, front and centre, will be the 'pay to fly' brigade. I can only hope there's enough room between now and my retirement for it not to affect me otherwise I'm going to be mildly miffed.
I could (almost) ignore it as not affecting my (our) little part of the industry except now the buggers are starting to leave the airlines, come to bizjets and bring their odious practices with them.At some point in the future when people pick over this industry and wonder where things went wrong for the employees right up there, front and centre, will be the 'pay to fly' brigade. I can only hope there's enough room between now and my retirement for it not to affect me otherwise I'm going to be mildly miffed.
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Guys,what the 
are you doing?What is wrong with this world???A grown up man,a pilot with almost 6000 hrs experience is paying to fly nowadays 
Please,just stop doing this sh*t,you're destroying the future of the industry and your future aswell...There should be some way to control this,it's enough...When we will start acting like a team and not like individuals?That's what they taught you during CRM,MCC course,right?Please,don't pay for any line training,people will just not respect you,I personally wouldn't shake your hand and I would never consider you a truly professional
are you doing?What is wrong with this world???A grown up man,a pilot with almost 6000 hrs experience is paying to fly nowadays Please,just stop doing this sh*t,you're destroying the future of the industry and your future aswell...There should be some way to control this,it's enough...When we will start acting like a team and not like individuals?That's what they taught you during CRM,MCC course,right?Please,don't pay for any line training,people will just not respect you,I personally wouldn't shake your hand and I would never consider you a truly professional
