Thanks for the advice guys!
My situation is that I'm 31 yrs old, married with two young children so Cabair appeals in that it is only two months away from home compared with Oxford's 6 months. However I realise competition for jobs is severe so I would be prepared to make some sacrifices. And I think you are right in that the licence really is the same at the end and it is how you prepare and come across for airline selection that matters.
By the way what was interview like with Cabair? Any tough questions?