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The Little Arrow That Could
$25/h all paid for on an interest free loan. Not bad for flying an LSA around. Sounds like an amazing deal for aspiring airline pilots. Is there some catch I'm not seeing?
Per WSJ article: https://www.wsj.com/articles/how-on...shortage-lend-pilots-money-to-fly-11663844401
Story:
Regional airline company Mesa Air Group Inc. is offering a new way for pilots who have gone through initial training to build up the hundreds of additional flying hours they need to qualify for airline jobs.
The airline, which flies for United Airlines Holdings Inc., American Airlines Group Inc. and cargo carrier DHL Express, said Thursday that it acquired 29 small two-seat planes with options to buy as many as 75 more over the next year. It plans to extend pilots interest-free loans to fly those planes around until they have accumulated the hours they need to work at Mesa.
“I really believe this will crack open the nut in terms of all these pilots out there trying to build time,” Jonathan Ornstein, Mesa’s chief executive, said in an interview.
Competition for pilots has been fierce in recent months and regional carriers like Mesa have said they have struggled to keep up. That is partly because bigger airlines have raided smaller operators, hiring more quickly than ever to replenish their ranks as they recover from the pandemic. As a result, airlines say, many regional planes have been grounded, without enough pilots to fly them, and dozens of small cities around the country have seen reductions in flights.
Regional airlines have been boosting pay to lure more recruits. For instance, Mesa recently said it would nearly triple newly hired first officers’ pay to $100 an hour. Horizon Air, part of Alaska Air Group Inc., this month agreed to hike pay by 74% for captains and 85% for first officers. Pilots at regional airlines owned by American Airlines are also getting sizable raises, though a portion is temporary.
... ... ...
Mesa will offer its light-sport planes to pilots for $25 an hour—significantly below the cost of renting a plane at most local airports—and will cover the costs with interest-free loans. Mesa said that pilots in the program will be able to fly up to 40 hours a week, which it said will allow them to build their time more quickly than they could otherwise. Mesa hopes its initiative will eventually accommodate over 1,000 pilots a year.
The new training program will operate in Florida starting in October and Mesa expects to expand to Arizona. Pilots in the program will get flight benefits and begin building seniority at Mesa and will have “priority status” for employment there once they are qualified. Pilots will have three years to repay the costs.
Per WSJ article: https://www.wsj.com/articles/how-on...shortage-lend-pilots-money-to-fly-11663844401
Story:
Regional airline company Mesa Air Group Inc. is offering a new way for pilots who have gone through initial training to build up the hundreds of additional flying hours they need to qualify for airline jobs.
The airline, which flies for United Airlines Holdings Inc., American Airlines Group Inc. and cargo carrier DHL Express, said Thursday that it acquired 29 small two-seat planes with options to buy as many as 75 more over the next year. It plans to extend pilots interest-free loans to fly those planes around until they have accumulated the hours they need to work at Mesa.
“I really believe this will crack open the nut in terms of all these pilots out there trying to build time,” Jonathan Ornstein, Mesa’s chief executive, said in an interview.
Competition for pilots has been fierce in recent months and regional carriers like Mesa have said they have struggled to keep up. That is partly because bigger airlines have raided smaller operators, hiring more quickly than ever to replenish their ranks as they recover from the pandemic. As a result, airlines say, many regional planes have been grounded, without enough pilots to fly them, and dozens of small cities around the country have seen reductions in flights.
Regional airlines have been boosting pay to lure more recruits. For instance, Mesa recently said it would nearly triple newly hired first officers’ pay to $100 an hour. Horizon Air, part of Alaska Air Group Inc., this month agreed to hike pay by 74% for captains and 85% for first officers. Pilots at regional airlines owned by American Airlines are also getting sizable raises, though a portion is temporary.
... ... ...
Mesa will offer its light-sport planes to pilots for $25 an hour—significantly below the cost of renting a plane at most local airports—and will cover the costs with interest-free loans. Mesa said that pilots in the program will be able to fly up to 40 hours a week, which it said will allow them to build their time more quickly than they could otherwise. Mesa hopes its initiative will eventually accommodate over 1,000 pilots a year.
The new training program will operate in Florida starting in October and Mesa expects to expand to Arizona. Pilots in the program will get flight benefits and begin building seniority at Mesa and will have “priority status” for employment there once they are qualified. Pilots will have three years to repay the costs.
