I think the UK and North America probably differ on this subject. It is a fact that many pilots in the UK did not get degrees or A levels and have gone on to have successful flying careers. They are more interested in your background as a whole, as sudden winds has pointed out, they will test you for aptitude if required and a degree is no guarantee of aptitude these days (stands back and dons hard hat!)
I think what is important is to show what you did instead of further education and how your character developed and was enhanced by this decision. I personally came the same route as you.....one year of A levels then dropped out due personal circumstances. Before flying I had a ten year IT career and parallel with that a 10 year career in the reserve forces. I therefore had a lot of 'life' experience to draw on when it came to interview (first flying job at 32.) I regretted not finishing my A levels and going on to university for many years as I knew I had the ability to have done so, but looking back now I think on balance I am 'ahead' due to the choices I made all those years ago.
I do agree with 604guy that some airlines may use this method of 'selection', or rather 'rejection', but in the UK I think that is more true when they are selecting cadets or low hours pilots. It is enlightening to see that aviation has become one of the few professions which will not discard candidates just because of a lack of formal education - if you have the ability to pass the ATPL exams and any aptitude testing then I have to say that I think these abilities demonstrate the required level of academia (or is it academea?
The profession is predominantly a practical one and this is reflected in the selection tests that many airlines run.
Hope that is of some help to you.
PP