I couldn't find any mention of contract length on the CX website, so basing this on what has been said earlier in the thread. The more suspicious part of me can't help but think that some of those advising people not to take up this opportunity are likely trying to thin out the competition if they are themselves applying.
Would a company like CX really consider taking on someone approaching 30 with no flying hours (I fly gliders actually but no powered experience other than an hours trial lesson)? I've wanted to fly since leaving school but the opportunity never came up, I had to get a 'normal' job and got stuck in the daily grind. Last year I found the time to start regularly flying gliders and it's really re-ignited my desire to fly. I actually think I would be a much stronger candidate now than I would have been at 18 as I'm much more mature, experienced and focused.