This paper presents a practical model predictive control (MPC) framework for gust load alleviation of a flexible flying wing. Both the controller solving and state estimation are based on a reduced-order model, which features a linear parameter-varying (LPV) form, avoiding online linearization and reducing the scale of the corresponding quadratic programming problem. An improved modeling and model reduction process is used to enhance modeling efficiency and ensure that the reduced-order model can accurately capture the rigid-flexible coupled characteristics of the flexible flying wing under arbitrary gusts. By reconstructing the output of the control-oriented model to include both rigid-body motion and flexible vibrations, the rigid-flexible coupled multi-objective control is established as an MPC problem for reference tracking. The online optimization is formulated in a sparse fashion and combined with an iterative algorithm based on predicted trajectories, describing the variation of model dynamics within the prediction horizon more accurately. With a time-varying Kalman estimator for state updating, the closed-loop simulations are performed for gust alleviation performance validation. Additionally, the real-time potential of the proposed MPC framework is demonstrated through Monte Carlo simulations.