Railjon wrote: » Aer Lingus is not having an FTO selected yet - so does anyone know how the school will fit into the process in the grand scheme of things, or maybe the tests were 'approved' by the FTOs that are being considered?
eoinmorris wrote: » Suffice it to say that finance will be required.
antonov225 wrote: » Did they say anything to the effect that you'll need to provide your own loan security? Unfortunately I am not a homeowner. I can't imagine many others my age are either, and there is absolutely no way that I would use family assets. Could be me out if this is the case.
antonov225 wrote: » Exactly. If I had the money to go integrated I'd have done that by now. I'd have thought that if you did have the money, but haven't gone to flight school, then you're probably not the type of character they're looking for i.e. genuinely committed. Yet you may be required to be in this circumstance to get on the cadetship. Bit of an odd thought.
antonov225 wrote: » hmm. I'm certainly looking forward to the Q&A session. They're probably planning to be quizzing us for the most part but I'll definitely have many Q's for them!
shamrock421 wrote: » You pay (with your own money, however you have it or get it) 75K. Shamrock pay the other 25k to the school which you pay back through payroll deductions once you are an f/o.
Tightwad wrote: » Quite a confident statement, were you told this by EI. I have heard otherwise is all but I wouldn’t like to speculate. Correct me if i am wrong. Regards TW
XWB wrote: » I've heard that you must get your amount off your own bat. I didnt hear an exact amount however. But 75 is a good ball park figure. The truthis that you will need yoyr own security in the event of you dropping out on your own bat or just washing out...Aer Ligus cannot guarantee you in that case!
high ho wrote: » well if they put something in place with a bank for you to walk in with your contract and get the money win minimal secrity, ie borrowing 5 times your shares like the credit union do, then and only then is this cadet scheme worth while running. Otherwise its another rich kids, wrong attitude scheme. EI dont win, the raw talent on offer gets sidelined and around and around we go in the circle yet again..
richgeezer wrote: » Exactly. Read my previous posts.Ei cant loose here,but then again why should they?
high ho wrote: » If EI end up having half of the final 20 drop out because they cannot secure a loan for themselves, then those 10 and EI have lost out due to incompetence. My guess is that they will have a loan guarantee scheme of sort for the successful few, otherwise,what's the point!!
theflanman wrote: » Hi everybody first time poster here. I have my stage 3 interview this week in the radisson, im excited but also nervous. i have 3 flying hours done with an instructor and loved every minute so at least i know i wont panic if i get in the air at flight school. Realy feel for the lads with 100s of flying hours that didnt get true realy harsh imo. What im most worried about is getting quizzed on aircraft and flight controls and the likes. does anyone have similar worries?? im preparing best i can but theres still alot i dont know. i feel i should be able to cope with anything else they throw at me. any answers would be realy helpful. and i do appreciate that yee cant give too much away for obvious reasons. cheers:)
happy_head wrote: » i have found out that many applicants fell down on the personality test. Its not something you can practice for, or something you can improve on because its just asking questions about yourself, no right or wrong answer.
XWB wrote: » Apperantly if you score well on them you have a personality disorder!:D. People with mental illness often score highly on those tests as it tests consistency of answer and only people who are psycotic can do that well enough! That was a joke back in the day! Someone read it in a book. IMO if people are being discounted because of a test they did that has questionably relevence to anything in life, nevermind flying...someone is in the cross-hairs for the kick up the hole in HR!
XWB wrote: » ........However I think I stated before that they cannot bear that liability on their books(20 x 100,000 = 2,000,000). Aer Lingus doesnt have the fluid assets available to cover that! ......
Tenger wrote: » XWB wrote: » ........However I think I stated before that they cannot bear that liability on their books(20 x 100,000 = 2,000,000). Aer Lingus doesnt have the fluid assets available to cover that! ...... In the H1 2011 results they have net cash of E315M (Gross cash is over E900M, but much of this is earmarked for lease payments) I realise that the airline's accountants may not want to lose that E2M investment, but it's taking a relatively small risk to get access to a wider pool of possible cadets.
dubberdo wrote: » I don't mean to get into an arguement with you but when you start going down the road of barstool talk I tune out... Part of me thinks you may be disgruntled that you don't get to choose who gets through. You did say your nephew was turned down afterall. For all we know H.R. may be doing a great job of making it a fair chance for all. I truely hope so because I know nobody in there. They do have to conduct some sort of testing to get the candidates. It could be argued how but if it's a proven way then who is some ex-pilot(you) or aspiring pilot(me) to say it should be done otherwise? We'll wait and see...
In the H1 2011 results they have net cash of E315M (Gross cash is over E900M, but much of this is earmarked for lease payments) I realise that the airline's accountants may not want to lose that E2M investment, but it's taking a relatively small risk to get access to a wider pool of possible cadets
shamrock421 wrote: » Some people need to read previous posts before posting :eek: Question was asked at the assesment the last day. €75,000 to be paid to the FTO by the student pilot. AL pay the last couple installment's (so when you are near end of IR/MCC training) so they top the FTO students account up with the end €25,000 needed approx. Something along those lines anyhow. You pay back that €25K through payroll deductions (along with your A320 Type Rating Course) once you are an "on-the-line" F/O. Its up to you how you get the €75k! "Your parents should be able help you secure such amount". Was great advice for all the budding 18yr old's there with mammy waiting outside the hotel in the car (In there mercs) :pac:
sdeire wrote: » Name the person who told you all this? We were told a much different figure.
Tenger wrote: » That why I quoted the NET cash figure. On paper EI have over E900M cash reserves, however this is the gross figure. E600M of this is reserved for fuel/leasing/loan repayments. The figure of E315M is the actual cash in hand available to EI as quoted in their most recent financial statement. So relatively speaking 2 million is not a huge risk. (Latest results forecast a "marginal" profit for 2011, not sure if marginal is 1,5,10 or even 20M!) I'm not claiming they are loaded but by their own published figures they are coping with the current economic woes (however, lets see how the upcoming budget affects aviation) At present the share value of approx 0.63 values EI at little under E400M, yet they still have double this in gross cash. Of course who knows how the mgmt/accountants in EI decide these things, some of them may well think that a cadet program is the height of folly.
thecornflake wrote: » Yeah, I heard my mate quote 50% funded by AL.
XWB wrote: » And pigs will fly. If Aer Lingus were going to fund 50k out of their pocket they would have sent everyone to NFC and saved some cash for the cadet. 25% is the very most they would stretch to.
