With regard to FlyBe/ Cabair ab initio course;
What I have learned from this thread is,
The students who were accepted on the course, and who started training this year, will (most likely if the downturn is not over) be placed into a hold pool, with speculation on their priority against others. They may also be eligible to "apply" for cabin crew in order to stay with the airline and assist in paying back their loans.
The similar students who commenced training in Jan 2008 and are due to finish this year, will be placed into the hold pool. (bananaman2 - post 6). They also will be allowed to apply as cabin crew.
The similar students who commenced training in Jan 2007 and graduated last year have started flying with Flybe (Bananaman2 - post 6).
Thanks for the influx of information. Whilst it is not a pleasant situation, it is important to know how things are going with this scheme.