On the flip side of nottellings tale of woe I did an engineering course at a well respected Uni, and out of the 12 of us in my 'group' every one walked straight into well paid jobs. (Except one who stayed for a Phd - and he is now earning mega bucks in the city). What I would say is that only one of the group actually ended up in engineering (and his starting salary was the worst)

.
Uni was probably the best 4 years of my life to date - I would not change it for anything (except I might have got up b4 midday occasionally when I didn't have to).
Think v.carefully about foregoing uni - it is great fun and nowadays you will be in the minority without a degree as every man and his dog is getting them at Mrs Miggin's technical college/Poly/Uni. Just remember - most employers see a degree as proof you can learn, not simply an advancement in the subject itself. If you want to do a maths degree (weirdo

) then go for it, and don't limit yourself to maths lecturing / Jeff Goldblum in Independance Day geeky hero job applications.
Can't really comment on the likelihood of CTC sponsorship as I was a modular stude who is seeking his first airline/flying job - I would just say that due to the number of applicants per place don't rely on it as plan A,B and C as sheer numbers means that plenty of guys and gals who are absolute gods on the sticks won't get a look in.
Good luck whichever route you choose