Well if u fly well in those 1500 hours Air Arabia will hire u a first officer IF they have places. With the number of students at Alpha now I do not think everyone will be offered a job?!
If u do not fly well you will be asked to leave. I am not sure if u will get an ATPL. I still think u will need to do the ATPL ground school again atleast. Those 2 licenses are very different
Then again when i asked alpha the question above they always said that i will face never face problems They said that I can go to any flying school and they will take my results if anyone wanted to leave. I did that to check if they are honest and no they were not! So i no longer believe anything Alpha says!