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HeliTorque :: View topic - how long will I be paying off my loan?
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HeliTorque Forum Index » Wannabes

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how long will I be paying off my loan? Goto page Previous  1, 2, 3, 4
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Heliwhore
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PostPosted: Thu Mar 18, 2010 10:22 am    Post subject: Reply with quote

Hi Novice, I hope your travels were of the snow variety.

I suspect you are now starting to find out why most CPLs qualiffy at 30+. Unfortunately it's hard to get hold of/borrow between 50 - 100,000+ (depending on how far you whish to take your training), and in this economic climate it's becoming even harder. But do you really want to...?

As discussed above, if and when you qualify, you will come out with the potential of earning very little money, yes you may just scrape by paying the loan each month, but the interest you are paying is making your training more expensive by the day.

This is the reason many of us have established ourselves in another career before we did our training. By saving the cash up before each stage (PPL, CPL, FI, IR), it will allow you to complete that stage, with no gap whilst trying to find a way to 'fund the next hour'.

The rotary industry isn't a particularly reliable one at times, and having another decent paying skill to fall back on can be handy when times are lean. I know this from experience, as I am currently back doing my old job now. As Veeany pointed out, there are quite a number of us in the same boat at present.

I don't say don't become a pilot, it's a great job, but:
a) don't go into it believing you will come out of CPL or even FI, and immediately get handed an income.
b) don't go into it without the view that: if it works out - FANTASTIC, but if it doesn't, then I don't regret trying.

I really didn't start this with the mind of being negative, I really applaud anyone that has the courage to invest that heavily in their future. Also, if you're a decent/safe pilot, and just keep banging your head against the wall, you will eventually get a break. The road is long...... bandhead
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paddywak
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PostPosted: Thu Mar 18, 2010 7:13 pm    Post subject: Reply with quote

It would be interesting to find out what other pilots do for a living when they are not flying. I am not a CPL but it is a road I wish to take, but in the mean time I work as a carpenter and in these lean times work is hard to find. I suppose it will stand me in good stead for the future when I'm trying to find work as a pilot. Laughing
What other professions do we have on the forum?
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veeany
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PostPosted: Thu Mar 18, 2010 7:46 pm    Post subject: Reply with quote

Software developer !

Spend most of my time at the moment writing web based services and mobile phone software, lots of web stuff, SEO for aviation companies although seem to be doiing quite a few others at the moment as the way I attack it does seem to work.

Have flown 5 hours in 4 months, 4 in the last 2 days.

I loved the flying in the last couple of days, but I'd be thinking long and hard before I invested any money in flying for anything other than enjoyment at the moment.

GS
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Heliwhore
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PostPosted: Fri Mar 19, 2010 8:39 am    Post subject: Reply with quote

Rope access technician. Spend my days running a team of abseilers on greasy, rusty, shitey oil rigs. Pays the bills, keeps you fit and gets you plenty of fresh air (as long as the job isn't beside the diesel exhaust)
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PostPosted: Fri Mar 19, 2010 11:14 am    Post subject: Reply with quote

no snow unfortunatly, Aisa but its sunny at least. I'm in an arkward position wasn't enjoying the RAF so i left, i love private flying and its what i'd like to do for a career. I Had a trial lesson in a helicopter because i thought that it would be more fun and dynamic than playing with the autopilot for easy jet. and i go to the Scillies on the s91 a lot so helicopters have been a boy hood dream. I'm 21 so i have time at least, and no ties to stop me going anywhere in the world for flying but I can't spend the money unless i know im going to get a job and from what i can see there are no jobs anywhere. Im hooked though, and foolish enough to talk myself into anything i want bad enough.
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ALFA8C
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PostPosted: Sun Mar 21, 2010 11:50 am    Post subject: Reply with quote

veeany wrote:
Software developer !

Spend most of my time at the moment writing web based services and mobile phone software, lots of web stuff, SEO for aviation companies although seem to be doiing quite a few others at the moment as the way I attack it does seem to work.

Have flown 5 hours in 4 months, 4 in the last 2 days.

I loved the flying in the last couple of days, but I'd be thinking long and hard before I invested any money in flying for anything other than enjoyment at the moment.

GS


5 hours in 4 months?

Blimey, that's a worrying statistic for anyone thinking of shelling out all of that money for their CPL!

What is the reason for the lack of available work?

Too many pilots or the recession perhaps?
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veeany
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PostPosted: Sun Mar 21, 2010 12:24 pm    Post subject: Reply with quote

ALFA8C

Yes it is rather, thats why I try and give the how it really is (or can be) kind of posts in these threads.

A friend of mine who must have about 5000hrs works for one of the big name onshore operators as a salaried pilot he has done 30hrs in the last 3 months.

The consensus of opinion from the guys I have seen in the last week is that it is picking up, but its very slow.

Winter does not help, but when you consider that both me and my mate I refer to are both IR'd up and have a few years IR experience its still a pretty rubbish number of hours.

One of the Big 3 is currently recruiting for 12 pilots I think.

Since I last posted on this thread I have done another whole 1.5hrs with the same booked for this week, I do not however expect this to continue as these are all post maintenance test flying and once complete thats it.

GS
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ALFA8C
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PostPosted: Sun Mar 21, 2010 2:23 pm    Post subject: Reply with quote

Is there any particular reason for the lack of work out there for helicopter pilots?
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veeany
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PostPosted: Sun Mar 21, 2010 2:42 pm    Post subject: Reply with quote

The recession.

The first thing to go from the companies that can't afford them is the helicopter.

People don't have as much disposable cash to book charters with so charter is quiet.

Lots of freelancers are back in their old jobs, some schools are busy but there are very few salaried instructors around.

Some schools are training 0-CPLs so they remain busy with what they had, most companies have seen a downturn and some have just given up all together.

The BHA have lost several longstanding members this years as the operators tighten their belts, and struggle to pay the much higher than previous AOC charges.

GS
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ALFA8C
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PostPosted: Sun Mar 21, 2010 3:10 pm    Post subject: Reply with quote

Interesting.

It just proves that one would need to think very long and very hard about paying for a CPL with the thought of trying to gain work in the industry.

It is a dream for a lot of people, as it is to work in my industry, but there simply seems to be no jobs for the very experience never mind the new entrants.

I still have sleepless nights thinking about the cost of the PPL and whether I should be spending that amount of money on a 'hobby' never mind funding a CPL.
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PostPosted: Sun Mar 21, 2010 3:38 pm    Post subject: Reply with quote

I was lucky to be flying privately yesterday on the last day of the Cheltenham races and the skies were quite busy with helicopter charter flights running to and from. The company I sfh'ed from were ferrying enough passengers to warrant 2 jet rangers yesterday, I know it's not a true reflection as it was just one day but they were busy. I did feel a bit sorry for the non IFR pilots though as the wx turned late in the afternoon and I did wonder if they would be able to pick the customers up after the last race.
I hope that things will eventually pick up for everyone involved in the industry and maybe if you have time on your side and patient then things may start to look a bit rosier in the future.
Yours optimistically, always half full
Leigh
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veeany
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PostPosted: Sun Mar 21, 2010 5:50 pm    Post subject: Reply with quote

Leigh

It may not be a true reflection but it is an indicator, everyone who I spoke to that went said it seemed busier than last year.

GS
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