Clanger, you are correct. The MPL is a partnership between the FTO, the company and the individual. The FTO provides stage 1-3 of the training and the student pays. Stage 4 is paid by the company (and the student) bonded for that amount. I suppose you could call it a sponsor. The idea is to train people to work at the airline, not to turn people out with a single type MPL who would then need to try and find a job outside. Flybe would not have the time nor the resources to train individuals in that way.
It would not be Flybe's intention to recruit all it's talent through MPL but an opportunity to train preselected individuals in a similar vain to it's current schemes.
In no way would it be meant to replace but only compliment the current system.
Flybe currently bond (£13.5K) for a DHC 8 Q400 type rating. They would still pay for this bit under similar arrangements which would substantially reduce the costs of getting the MPL and therefore make the challenge of finding the money less of an obstacle. This in turn would allow the airline to have access to talent not previously available.
Flybe are one of the few players who put something back in to the industry at grass root level.
If for any reason an individual decided to leave an MPL scheme, they could continue to do the rest of the phase 4 training in the traditional way and gain an FATPL.
Flybe have made many 'firsts' in the industry and would not commit to something they did not intend to follow through. Having said that it is a (small) risk which would need to be considered in the current climate in the knowledge that a licence could be gained in the traditional way if the worst came to the worst.
A 'proper' licence was mentioned previously. Not all, but most airline pilots choose to fly for their day job only and therefore require nothing other than an MPL. While most/all current airline crew have a 'proper' licence now, only a very few make use of the the other privileges. Only a minor upgrade would be required to achieve SEP status etc although only on a private basis.