For pre-selected airline schemes, your education record will most likley be looked at, though if you have valid reasons for what happened then it may not have a significant effect.
If you are funding a f/ATPL yourself and looking for a first job, then performance at your FTO will be considered - some on-line applications ask for this info and presumably are using it to filter.
Once you have a licence + a decent amount of commercial hours, both of the above become less important.