Well the courses are still there - but now called "Integrated Course" (rather than modular course).
Some airlines, I believe, are still doing the deal. They hire the "right kind of student" and ship him/her off to pilot school. They are often referred to as "Direct Entry Cadets",
The courses are run by the humongous - and humongously expensive - mega schools like Oxford, BAe (Jerez) etc.......but there is little or no work anymore for the guys who fall out of then end of the course with a licence.