Agree with most of the above, however, if you look at most airline application forms, there is a large section devoted to your educational background.
As has been said above,... if it's you with nothing and another candidate with straight 'A's then chances are HR will make an uninformed choice.
That said that once you are 'in the system' it's experience that matters although I did have a bit of a soft shoe shuffle over my grades at one interview.
It now looks as if getting an interview is the hard bit and the more boxes you can tick the better...remember, it's these new fangled HR bods that seem to call the shots