You're pretty much on the money (no pun intended) with the costs - perhaps slightly over compensating for living costs. I'm budgeting between 8-10k for food, petrol and all that jazz (remember you have to cover license issue, insurance and medical renewal yourself so you must account for this).
HSBC give you 60k for the bond and wil loan you up to another 15k for the foundation course (now 13k NZ$) and 5k towards living costs per year. All this is unsecured so you do not need property to secure it on. Uniform, flight gear, reference material flights, accomodation all paid for you. Hope that helps
Just read MajorYaws thread - spot on! As for the tax breaks, as I understand it, (and dependent on the sponsoring airline I believe) you will likely just get one payment a month which already takes into accound the £1030 repayment they are giving you per month, and this is tax exempt - you therefore get a tax refund on the net amount in light of this in every pay check - if I am wrong, do correct me but this is how I understand things.