This is a 3 year training contract disguised as a bonus. The option to continue to increase first year pay is still there but they’ve decided to do this instead cause it’s cheaper. It’s also less equitable for pilots already here.
Buyer beware! I WOULD NOT come to F9 for this and if I did, I would keep the money in savings to repay it if hired elsewhere. Think hard before you shackle yourself in the current hiring market.