Such policies clearly expose universities and their students to a significant degree of risk, as the BSc provides significant value in preparation for an MSc, but I have certainly met students doing the part time MSc in air transport management at City who do not have a first degree. They were however all seasoned industry professionals with appropriate licences - and thus presumably satisfied the university, at application then interview, that they were up to it.
I'd be surprised if City would even seriously consider somebody with just GCSEs and an fATPL, for entirely sound reasons.
This is from City's website...
What you need:
A professional licence, for example an Air Transport Pilot’s Licence, Aircraft Engineer Licence, Air Traffic Controller Licence, or similar
To be employed in the aviation industry for at least two years.
Successful completion of the Induction Workshop (IW). The mandatory IW to our MSc programmes must be passed and will assess the English capability and writing skills required for the MSc programme.
Please note:
You do not need a Bachelors degree to study this programme
The IW runs four times a year, twice in London and twice in Dubai. The fee for the IW is £500
This is from Cranfield's...
A first or upper second class UK Honours degree (or equivalent) in any relevant discipline. A lower qualification plus a number of years' relevant working experience may be accepted as equivalent.
Applicants who do not fulfil the standard entry requirements can apply for the Pre-Masters programme, successful completion of which will qualify them for entry to this course for a second year of study.
So my reading would be that they are being sensible in allowing a route for industry professionals, who can demonstrate equivalent standards of learning and intellect to a bachelors graduate, to directly enter the MSc.
G