Personally, I thinks it's great that in this economic downturn that an airline is in a position to recruit. If I were out of a job right now I would jump at the chance to get my income back and pay the bills etc...
The bond is neither here nor there, I know it may seem OTT if you are already type rated, but really it only comes into play if you leave within the year which is not likely to happen is it!
If you don't like the sound of the job on offer then don't apply. If you can be that picky then you obviously don't need the job that much, so stay away and give someone who needs/want's the job a chance.
Good luck to those who do apply.