Angelorange, airline requirements are very flexible, so the Air Arabia requirements will not necessarily rule out these guys.
That said, I am not convinced by this scheme, if I was a chief pilot, I would want either 1) Cadets who are brand new who can be indoctrinated in the company flying culture/SOPS or 2)People with enough experience on type to make the SOP conversion the main problem, with flying the aircraft second nature.
I would not want to employ people who have come freshly out of completing line training for another airline. You would have to reprogram them at a stage where routine and process gives them something to hang their hat off.... not ideal IMHO (this is said as an FO who has seen people really struggle in my previous airline who have gone through a scheme like this).