Hi!
A sponsorship is ofcourse the best way to go as it saves your wallet for later expenses. However, I guess finding a sponsorship programme is as hard as finding a job later on...
My advice is to seek up and get information on the various available schools and then choose the one with best combination of quality and price.
BFSAA I feel has provided me with a good foundation to base the rest of my career on, however they are not the cheapest option for anyone except for the ones accepted into the Swedish government sponsorscheme.
Dont wait for a sponsorship! Possibly start out with a PPL and start building time by towing gliders or such. Just to get yourself going. Whilst doing this, try to figure out where to go next in regards to ME+IR and the ATP theory. You also need to upgrade your PPL to a CPL to get a job and this requires additional training as I guess you've understood.
Just dont wait for something to turn up at your doorstep, you need to be actively searching all the time. Time waiting is time that you should have spent making your self attractive for the employers.
And just to clarify: A job with Emirates or BA is from starting point far far away. If you get a job, its more likely to be with a less glamourous airline such as Ryan or similar. These are the positions that open up first to low houred applicants and although you might be flying jets, there is allways a better contract to have for which you have to work some time to get.
Its a fairly long way. My time from starting point to first employment was roughly 6 years. Many have probably made it in a shorter timespan, but there are certainly some guys out there with a longer timespan from start to employment...
Best of luck and just remeber to be actively looking.
/ LnS