Up to 30 apprentices who worked at SR Technics will be able to complete their on-the-job training with the Air Corps.
Defence Minister Tony Killeen said the new programme will give former employees at the aircraft maintenance facility at Dublin Airport the chance to finish two phases of their training.
More than 1,000 skilled engineers were axed when SR Technics controversially closed last year.
The first group of up to 14 apprentices will start the scheme at Casement Aerodrome in Baldonnel next Monday.
Mr Killeen commended the Air Corps for having the foresight and willingness to engage in partnership with FAS to implement the programme.
"The Air Corps has a highly skilled cadre of aircraft maintenance personnel and the aircraft on which the skills of the apprentices can be practised and honed," he said.
"It trains its own personnel to the highest requisite standards and will now be providing similar training and expert knowledge to these apprentices," he added.
Junior education minister Sean Haughey, who co-launched the scheme, added: "This is a hugely beneficial and highly specialised programme for well over half of the aircraft maintenance apprentices let go at SR Technics' Dublin airport facility.
"These redundancies have had a major impact in my constituency."
The European Commission this week agreed to release 7.4 million euro (£6.3 million) to provide new employment for 850 of the 1,135 workers who lost their jobs last year at the aircraft maintenance firm.