The Sterling MPL pilots have found other jobs, some with Ryanair, some with SAS and another airline I can't remember the name. I assume the ones who went to Ryanair had to pay for the 737 TR. I think SAS grounded their Dash 8s, so the ones who went there probably got a new type. I'm not sure who pays for them at SAS.
The flybe MPL cadets don't pay for the Type Rating, flybe do and bond them for three years, so they don't pay for the whole lot. Flybe has also required both FTE and OAA to guarantee that they will fund retraining to CPL/IR if flybe are unable to take them onto the type rating at the end.
An MPL is useable for any flying job every bit as much as an fATPL is. The only part not transferable to any other airline is the type rating and that happens to be the case with an fATPL holder as well.
Flybe has 4 cadets at OAA from last year who are getting an MPL. They will have MPL cadets there soon. Let's compare them. The 2008 batch will get fATPL. The 2009 batch will get MPL. Both will get a Q400 type rating paid for by flybe.
If flybe go to the wall before either batch finishes their type rating, the 2008 batch will be able to apply to other airlines right away, but will not have to pay back the £20K sponsored costs to flybe. The 2009 batch will be retrained at FTE and OAA expense to an fATPL and not have to repay flybe for the sponsored costs.
If flybe go to the wall after they are on the line, they will be made redundant. It is not clear if FTE and OAA will retrain the 2009 batch to fATPL if this happens, but I suspect not since there is no regulation preventing other JAR 1 Ops operators from hiring them. Both the 2008 and 2009 batches will have recognized licenses and Q400 type ratings. The 2008 batch can apply for a broader range of jobs since they are qualified for both single pilot and multi pilot operations.
Both the 2008 and 2009 batches of flybe cadets could fly for another airline that operates the Q400 and all they would need to do is a conversion course where they would learn their new company's SOPs. Both batches would need a new type rating if they get a job with an airline that assigns them to something other than the Q400. The only question is who will pay for the new type rating and guess what, there is no difference in the odds for the MPL and fATPl holder as far as who will have to pay except for one very overlooked fact.
The fATPL holder before the flybe type rating will have less than 40 hours multi crew training and the MPL holders will have over 100 hours of it. Both will need to undergo a simulator assessment to get a job with a new airline. My money is on the MPL holders to be more likely to get the job.
Here's the bottom line, very few airliners have crashed because the pilots didn't get enough training in puddle jumpers. Most crashes occur when either a human error occurs or an equipment malfunction occurs and is then compounded by human errors. This is what MPL aspires to redress and you can't train for CRM, TEM, etc. without a two person flight deck crew.