I agree. I wouldn't want to dispute the quality of the Oxford APP, it's one of the best-designed programmes out there.
But the point is this: spending the sort of money Oxford are asking means student are taking a big gamble, no matter what Mike Taylor and the glossy brochures might say. For those who have access to the funds, the same (Oxford) money can buy APP-level qualifications plus a TR on just about any type that pilots are currently being recruited for. And this, in my opinion, puts into question the unique selling proposition of the APP - which is its claim that OATS can provide cadets with a better chance of employment than any other school. Is the APP better than an fATPL from another school plus a TR? And in the context of BA, let's not forget that the fATPL+TR route would also bring any potential applicant a lot closer to getting a job there. Of course I'm aware that just an fATPL+TR is not enough for getting directly into BA as a DEP, but for recently qualified fATPLs a TR will certainly improve the chances with a lot of other carriers who are currently recruiting. For those that then really want to carry on to BA, it would therefore also enhance their chances there - given enough time to build the necessary hours.
As Alex Wittingham says, even without spending the Oxford money, or without buying a TR, students of many other schools have been equally successful in securing the first job. And as far as Oxford goes, it's true - given their investment in the APP and the associated facilities (which are remarkable) over the last 2 years, things would go downhill without the programme being able to recruit a steady stream of new cadets...!
Scroggs, I'm curious whether the BA decision to recruit both APPs and DEPs is based on a requirement to avoid 'bulges' down the line - given the relative age flexibility for both recruitment streams (a DEP might be younger than an APP graduate). I think it is more a case of meeting both the airline's short and long-term requirements.