They may get a few type rated people who can't get a job anywhere else but if they want the operation run properly (efficiently = min cost) then they are going to have to front up a decent salary.
Learn the lesson of the Orange airline where they saved 4 million a year in training costs by spending 1 million a year on a payrise to improve retention.
Pay Peanuts, get Monkeys .... and monkeys without any loyalty at that!