Raising Funds - Query

What makes you think you can "get an airline job" just by qualifying? I was under the impression that airlines have more than enough pilots, and are even laying them off.

Thank you for your constructive support!

Assuming you do not work in the airline industry... The average age of an airline pilot is now late 40's, and pilots can only fly till they are 60, so in 10 years or so there may be a chronic shortage of pilots. But as in all walks of life, recruitment is an ongoing thing - people leave and people retire. Pilots will always be needed. Becoming a Captain takes about 7-10 years after qualifiying as a First Officer, so the aim is always long term.

Also, although the market took a downturn, the seeds of recovery are now sown. The larger airlines are recruiting again, and swallowing up pilots from the smaller airlines, who traditionally feed bigger carriers. easyJet, for example, are a smaller feeder airline, and they are buying 120 planes over the next 5 years, each plane needs 14 crew - that's 1680 pilots, and they recruite very often from recently graduated cadets. The general consensus in the industry is that 18 months from now will be the time to be a pilot looking for work - and that is exactly when I would finish the course.

Do not think that I have not researched this fully before going into this. I would not give up a good job and take a 64000 loan without good reason! With air travel continuing to grow, and smaller airlines needing First Officers and Captains to replace those that move on to larger carriers, the market has never looked more bouyant.

Also, your reply did not deal with my request - whatever the money is for, I was after suggestions how to raise it!

Thank you all the same..

David.

I suppose you have considered applying to the RAF for pilot training?

Sorry, a friend's son and the son's girlfriend both work for BA and were trained by BA at BA's expense. Despite the considerable and recent investment they made in these youngsters they came very close a year or two ago to laying them off.

I'm glad to hear it.

Good for you, but you'd be surprised how many people spend money they either don't have, or at least can't afford to lose, on what may turn out to me no more than a pipe dream.

Ah, but is it? I thought people were now travelling less, with all this terrorism about.

Well, OK, if you're sure, I'm sure.

Sorry, but the facts speak for themselves. If you have insufficient security, you simply can't borrow that kind of money except from loan sharks. The only realistic option I can think of, but you're bound to have thought of it too, is:

If the airlines are going to be that desperate to recruit in 18 months' time, one would have thought they'd know about it now, and would take their own steps to ensure there'll be enough supply to meet their demand. Is there no possibility of approaching them to see if they would take you on and fund (or partially fund) your training, in return for a contract whereby you'd work for them for a certain period before being allowed to work for a competitor?

Yes, I appreciate - things have not been easy!

Internationally, it stalled, maybe even decreased. Regionally, and to Europe, things are at an all time high. Low cost carriers, your easyJets and Ryanairs etc are thriving on the boom - with people not wanting to travel long haul they are opting for more local destinations. The growth in low-cost carriers is immense, and thus there is a need to fill those positions.

Well, that was my question - is there any way a reputable company is going to take a risk, so to speak, and lend beyond someones security on what is a relatively safe bet. Of course, nothing is guaranteed, but then I could quite easily get a loan of that size to start a business which could fall flat much quicker, leaving big debts, so why should this be any different? But, I do not profess to being an expert in financial circles!

Airlines don't accept people applying like this, they refer you to advertised schemes. But, because there is no financial problem in joining a scheme, they tend to be over-subscribed by a ratio of 200-1. So, it's a vicious circle - pay yourself to guarantee you go through, or wait for a training scheme but fight with lots of other people who wouldn't dream of being a pilot until they saw they could do it for free. Having said that, traditionally becoming a pilot is an industry you pay to get in to.

Believe it or not, the costs involved in learning are at an all time low - if you're prepared to learn in the USA or New Zealand it's as low as 25000, but having a house, wife and newborn baby means I am not in the position to spend 9 months abroad right now, with only two 1-week return trips home to take exams, hence the extra cost (double) in learning in this country.

David.

In message , David Wright writes

The use of the money is a critical part of raising it.

In this case I cant see any way of you raising it in one lump sum. You have no security and will have no job and, despite your confidence, there is a real chance that you wont get a job at the end of it, not all people manage to complete the course you know! And even if you do, it doesn't guarantee you a job.

You have no security and want the loan to purchase something that is intangible and which cant be used as physical security.

So you fail the basic loan test for repayment and security.

Perhaps the best bet would be to spend the next year or so acquiring as many credit cards as you can until you've got loads of credit limits then draw on them bit by bit. It'll be damned expensive and in my view damned stupid, but thats the only way I can see of you doing it.

In message , David Wright writes

I'm afraid it is definitely NOT a relatively safe bet. From a lender's point of view it is a massively UNSAFE one and is a scenario that is more likely to fail form the banks point of view than succeed. I know you wont see it that way but bankers have heard just about every possible 'dead cert' story you can think of.

No you wouldnt.

Quite (sorry)

"David Wright" wrote

Well why don't you do that then? Set up a Ltd Co ("Dave's Airline Pilots Ltd"??), get the loan for the co, do the training as an employee of your own Ltd Co & finally afterwards, contract out your services via the co?