The info above from Matey, Ocean and DC is correct.
The Fixed Termers are just that. The advice given to them by me and my predecessor is head down, a#*e up and there is a good chance you will be looked at for Permanent Contracts should the need arise and of course, should you wish to take the offer. Why wouldn't the company take a "known" quantity? Sadly, some chose not to take that advice and were "known" for the wrong reasons.
Some also looked at TOM and when offered positions decided to move on, AFAIAA, one for family reasons and two to return to their homeland.
The bases for Fixed Termers will be part of the offer, you will not go on the seniority list and will not be able to go on the base bid. There is a free bid for pilots already in TOM on Permanent Contracts and those just joining will also be part of that. Fixed Termers are at the bottom of the pile.
Should you be offered Permanent Contracts, you go on the list. There are currently 4 Cadets in the system in the same boat, it is my understanding and to be absolutely honest, my strong wish, that these Cadets would get looked at first. Apart from anything else, they have already started.