Well I've got to say all the credible airlines I know of, employ pilot's of all ages. By not employing anyone aged 40+, they are ruling out a wealth of talented pilot's who have some priceless life experience. This often translates into positive feedback when CRM and command assessments are considered.
Anyway, this subject has been done to death so I'm bowing out before the lock/merge.
AWACS_bhoy you have a PPL and 220 hours. With £20,000 you could probably do your ATPL's, CPL and IR! With that completed you could go airline job hunting.