Easyjet recruitment methods
 

I am not attempting to start a controversy here - merely trying to satisfy my curiosity.

I note that Easyjet has, in conjuction with a flight training organization, offered ab-initio full sponsorship to a select number of aspiring aviators.

Given Easyjet is a low-cost airline, I was wondering what the benefits (in terms of cost, or other factors) the airline derives from training 'cadets' with little or no experience, as against an individual who is either type-rated on the 737, or holds a siginifcant number of fixed-wing hours.

I do realise that successful candidates are bonded for 7 years. If this method of recruiting suitable flight crew is successful, why haven't other LCCs embarked upon a similar path (such as Ryanair, who I believe have a greater pot of money at their disposal)?

Is this the preferred method of recruiting future aircrew, provided the airlines are in a position to afford the related costs?