Originally Posted by
fenix1
In exchange for a commitment (sounds like 5 years), is Republic actually paying for all costs of the flight training? (private, instrument, both commercials and the 3 CFI ratings) Or does making a commitment to Republic just give the right to financing?
Having Republic pay for flight training (ie, an Asian or European style cadet program) would be big. Merely having access to financing could be helpful to some, but not nearly as big. If all Republic is doing in exchange for a commitment is offering financing, then I’m not sure how the airline benefits significantly from buying Lift - what am I missing there?
This is obviously second hand info from the guy I spoke with as I wont be there until next week, but it appears to be a pro-rata contract. You are on the hook for the full $65k if you were to quit on day 1 of indoc, with the amount reducing over time until its fully paid at the 5 year point. So technically they are providing your financing but forgiving it over time. Im not exactly sure how this works on paper. Im sure its tied up in all sorts of legal jargon. But yes, it will be funded from zero to hero.