Although it's not a full sponsorship and he will have to pay his training by reduced salary at the end of his course, it's a good move for him and best of luck. Very unlikely that Flybe will want the adverse publicity that would go with the first MPL students in the UK working as CC rather than pilots. Watch this space.
Well done to the lad but to be fair it's not any sponsorship at all. Pilot College run a MAPS scheme with Flybe but I think the only monetary thing Flybe will provide is the JOC. The £88K will come out of his wallet.
I should reiterate how good I think Flybe is in offering MAPS and PSAPS courses (the later offering some sponsorship) but this Mirror article makes it seem something it isn't, which gets hope up unnecessarily.
And I know one or two FO's at my last airline who were on the line at 19 surely this chap will be more like 20?
As you say though good luck to him