Now if my memory serves me correctly, back in 1997 BAe Systems Prestwick set up a similar scheme called PASS. Partnership Airline Sponsorship Scheme (or something like). However, their approach was to recruit a pool of suitable candidates and various airlines would pick & choose from this pool, and offer a part sponsorship. After the Morrisby tests & GAPAN testing (totalling £500) I was one of the lucky 30 to beat off a 1000 initial applications. Brilliant!... ...Not quite. I think AIH took on 4 or 5, and that was it. We never heard from BAe again - change of management etc but it seemed the 'airlines' weren’t really interested in recruiting back then.
Although I didn't end up with a job, it certainly built my confidence up (quite young then) and I still believe it was worth every penny.
Back to my main point, similar things have been done before - didn't really work, cost me only £500 to tell me I was suitable for Airline work. As it's already been stated, there's still no 100% guarantee of a job - not be even an interview and that is one costly exercise. On the other hand someone's going to get a job and it could be you...
...best of luck to all who go for it & happy flying
CFIT