Why? If you look at the network of the company and what they offer... it seems that they want to use only f/os for the long flights (as they say). So no need for so many flights. 10 maybe 12 flighs a month. The trust in their captains doing their training for the release is high .
I am sure they made their risk assessment as this is a private airline listed on the local stock market. there are shareholders which are interrested in their part and when an aircraft with passengers generates bad news for semi-professionals they are aware that the stock market might react.
Anyway they should be checked by the local DGCA and when they give the go.... as they are low cost operators they know about the cost of training and that every one who cannot make it through the check is wasted money. Also they know about the motivation of the senior f/os who get to know that the new ones are getting more then a captain in that company! So where is the catch?