Funding-wise, if it is indeed fully funded, I imagine it will depend on how "fully-funded" is defined.
It would be great if it was in the style of the Hamble cadetships back in the 60's and 70's where absolutely everything was paid for, fairly unlikely though.
I imagine that the best possible realistic outcome would be for it to be broadly similar to BA's FPP, where the airline secures the loan but the trainee bears a significant amount of the financial risk involved.
If it were the former, I'd be tempted to throw an application in. If it were the latter I'd get some more experience working in my current industry so if things didn't work out I could probably jump back as a subcontractor.
I imagine all will be revealed in a couple of hours.