OK, I been doing some research and here's what I found. BAE System is listed with Ministry Education as a school that provide Non-award education. Now going back to the Ministry of Immigration website, there is a student visa for Non-award type education. So that probably mean non Aussie will need a student visa when his or her undertakes flight training with BAE. Here are the links:
Overview of Student Visa Program
Visa Types and Conditions
Disclaimer: I'm not an employee of Cathay Pacific or employee of the Australia government. I do not and cannot ensure my information is 100% correct. Therefore, please contact the Australian embassy.