I've had people asking me about the level of qualifications and saying that if they don't take diplomas/A-levels, they would not advertise as so. Just my 2 cents worth, that is just a minimum qualification level ...Nowadays, a O level failure can still get a degree from pte schools, other countries, etc. Therefore to cover themselves, if the degree is not recognised, they move down one level to see what you have and if you qualify. For eg. If i have a business degree from a private school and they don't recognise it. They will look for A levels or diploma. If I have a diploma and it's also not recognised, they will look at my O levels. It's to your benefit actually. But if you have a degree from say like NUS or NTU. Then it's on to the next step to weed out people. It all depends on the intake (# of people and # of candidates).
Dave,
For your case, you probably got the first interview due to your A level results and your experience in flying as your diploma is not recognised. But it might be because of the competitiveness, you were not taken into consideration for the 2nd interview. Try again if you are really serious, who knows.
For those with masters and such, it all depends on what sort of masters and from where. To be honest, MBA is nothing much as you can get that anywhere unless it's from some top university. Preferable to have masters in a scientific or mathematical field and it may work to your advantage.
Good luck all!