However... There has been a queue jumping system in place, whereby you can leap out of that waiting list and into a course (leaving others waiting for their offer) by accepting a non-UK contract. This has been called the "Accelerated Command Opportunity".
The last (Madrid) accelerated command courses have now run, but with a new French contract being negotiated I imagine that there will be more acceleration available, leaving those languishing on the list the opportunity to remain as a First Officer for even longer.
That reminds me of something like Ryanair