I was just lurking and thought I'd add a point...
Like in many industries having the bit of paper doesn't mean that you automatically have all of the other attributes that an employer wants. I hoped to get a top job in IT with one of the investent banks after doing excellent at uni but couldn't even get a look in. Now after a few years experience in different areas and a lot of character building I'm now working at the level I always wanted.
My point? Don't always assume that the bit of paper is the ticket to the job you want. Maybe (probably) the attributes that the FTO's look for and the one's the airlines look for don't always match up. Sometimes you need to take a bit of time to look at what other aspects of your CV and your character you can build on to give you the edge over everone else. Also never give up because there is almost always a way to get what you want...eventually!