BREAKING NEWS One of the UK’s leading commercial pilot training schools, FTA Global, has gone bust.
An email sent by CEO Sean Jacob to students at the Shoreham-based school, also known as Flying Time Ltd has been seen by Pilot Career News and says the company ceased trading on Monday night after running out of cash.
This is the note sent by Sean Jacob:
It’s with a very heavy heart that I write this note to you all this evening. Despite a last-minute meeting this morning with the management team from Aeros, I can find no one prepared to invest directly into Flying Time Limited or to buy the company out of Administration. We have come to the end of the road and we ceased trading this evening. I will contact the CAA & EASA in the morning. There will be no lessons (Simulator or Ground School) tomorrow or again.
I have explored every possible avenue to avoid this and, even today, I had hoped there might be a route forward. I can confirm that one of our competitors is already in discussions with the landlord about rapidly opening a satellite operation here at Shoreham Airfield and that they plan to do this very quickly. I will be in contact with other commercial flying schools to see how they might be able to help.
I am very sorry. I have already made considerable personal investment to try and keep FTA Global going. I have nothing left to give.
I am meeting with the staff at 09.00hrs (BST) and will be available to meet with any of you from 10.00hrs onwards in Classroom 1, Hangar 7.
Flying Time Limited is not in a position to make any immediate refunds. We are working with an Insolvency Practitioner from FRP Advisory and their details will be available on our website from tomorrow.
We will ensure all training records are brought completely up to date over the next few days and these will all be available to you via FlightLogger. We will keep the FlightLogger accounts active for the next month. Some students are just awaiting a test flight to finish and their tests are already booked and paid for. I will work with Phil Jones and James Piper to see if these can be completed ASAP. This will be the same situation for students who had exams booked with the CAA this week.
Again, my apologies – this is an email I hoped never to write.
With best regards, Sean
A Facebook group for Students from FTA Global Flight School has been set up here.
More on this news to follow.