Wiggums,
Here's how I can see them being able to continue with the ACE guarantee. First, the contractual guarantee is not a job within six months of meeting the 700/100 times. It is a job within six months of meeting the minimum hiring times for the particular "regional partners" that you're applying to. Pre-September 11th, those agreed upon times were 700/100. I have yet to see anybody get hired from here with those times, and believe that the minimums met before anyone actually receives the ACE refund will probably be significantly higher. I can't speak from experience on this one, but good luck to anybody who tries to get their money back...I'm sure it won't be easy!
As far as the instructors sitting around, here's what gets me. Okay, congratulations, you're an instructor. You've now paid $60,000 for the program and have no students. So, seeing as how all airlines are based on seniority, and since this time spent sitting around not building any flight time is going to cost me months of seniority once I get hired, certainly Pan Am is going to compensate me for the thousands of dollars being wasted sitting around with no students, correct? I mean, isn't that the rationale you get when they're trying to get you to take out more money once you realize that the extra expenses spent sitting around for months waiting for stagechecks, checkrides, etc. has caused a significant cost overrun from the figure they give you coming in (sorry about the run-on sentence). Isn't this why their time-off policy is so stringent...because of the whole "faster, farther, for sure" thing. Just seems that time could be spent more productively. And of course they're going to compensate me for the time I'm now an instructor with no income, right? Or do I get the number for a loan extension on that one too?
If the time guarantee is actually six months from the time the minimums are met, then Pan Am has no problem with having instructors sitting around. Because guess what...if you don't meet the minimums for the regionals for two years, then guess when the clock starts ticking on that refund. You guessed it, two years.
I don't know. I'll take the good with the bad. Turtlboy is absolutely right on the aircraft, maintenance, etc. They are all second to none. I just think before you invest the kind of money they're asking for, you need to look at the end result. I'll be the first to say there are pros and cons of any program. I've been very fortunate to have some excellent instructors, learn a ton about aviation, and meet a lot of great people at Pan Am. But does the end justify the means...is finishing the program really the fastest, most efficient way to flying for the regionals. Sorry, I'm just not sold on that. But hey, if money is no object to you, then maybe you should just give it a shot.