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Ok lads, I'll need your take on this one.
I found out a few weeks ago that I've been accepted into Wizz Air's Pilot Academy. It's a cadet scheme they run for certain Eastern European nationals, from 0 to employment as a FO in their airline.
You have to pay 14k upfront and after 5 months and passing a checkride with them, they're going to sponsor you a loan for 51k more. This gets deducted in the first 5 years you work for them.
Problem is, they want a suretyship agreement too... basically someone to cover your loan if you fail training / go wild. This is the part that scares me. I wouldn't want to get my family into training.
They claim that the pass rate is at around 90% and that most fails are behavioral. I have some flight experience already thus I don't feel all that concerned about this.
What concerns me is that they don't actually give any guarantee that they'll hire you. They hired most people that finished the program until now, but there is no hard guarantee. During the pandemic hiring freeze, they just put their students on hold and didn't ask any repayments. What would happen if they were to go bankrupt?
At the same time, their ass is on the line too, since they're the ones sponsoring your loan...
Thoughts?
