Dr. Eckener,
I think you are wrong, but I see how you could read it that way. This is not how they ran it last year and they are one of the few honourable airlines left, so I doubt that they have just raised the cost by £19,800. If they have, they should expect that the successful candidates will withdraw once they crunch their numbers.
A quick call to Flybe or FTE tomorrow should clear this up. In previous year's they paid the £19,800 to FTE/OAA/Cabair, etc., so it definitely wasn't for the type rating.
If I am correct, you still repay the Flybe contribution, therefore the statement that you pay £76K is factually correct, while still confusing.
Furthermore, I submit for consideration the fact that Flybe have never charged for type training, not even when they hire self-sponsored wannabes on the back end of their course. They use a three year decreasing bond for type training, but they have never done SSTRs.