Any companies do contract buyouts?
02-09-2020 | 10:21 AM
#1
Thread Starter
New Hire
Joined: Aug 2018
Posts: 6
Likes: 0
Any companies do contract buyouts?
So I thought I was signing a contract when I started working for a 135 company based in the midwest. While at initial I actually read the "contract" which actually turned out to be a promissory note at 6٪ interest for the first year and then paid off the second year. It's on me for not reading the details and I'll take the heat for that. I just wonder if there are any fractionals or 121 companies out there that are willing to buy out a contract?
02-09-2020 | 10:36 AM
#3
Line Holder
Joined: Nov 2017
Posts: 854
Likes: 20
So I thought I was signing a contract when I started working for a 135 company based in the midwest. While at initial I actually read the "contract" which actually turned out to be a promissory note at 6٪ interest for the first year and then paid off the second year. It's on me for not reading the details and I'll take the heat for that. I just wonder if there are any fractionals or 121 companies out there that are willing to buy out a contract?
02-09-2020 | 10:41 AM
#5
Thread Starter
New Hire
Joined: Aug 2018
Posts: 6
Likes: 0
02-09-2020 | 10:48 AM
#7
Line Holder
Joined: Nov 2017
Posts: 854
Likes: 20
sorry, man.
02-09-2020 | 12:13 PM
#8
Perennial Reserve
Joined: Jan 2018
Posts: 14,196
Likes: 240
There are certainly companies that offer hiring bonuses with which YOU could buy out the contract. How much is it? IE, how much did they soak you for a type rating you could have bought for $5K?
https://www.airlinepilotcentral.com/...gojet_airlines
https://www.airlinepilotcentral.com/...gojet_airlines
02-10-2020 | 08:56 AM
#10
Perennial Reserve
Joined: Jan 2018
Posts: 14,196
Likes: 240
Depends on how onerous the terms are for buyout vs staying. But $30,000 for a type-rating? Jeez! What were you thinking?
Thread
Thread Starter
Forum
Replies
Last Post
