JT8 and everybody else!
Keep trying but remember that there are more jobs in the UK outside of BA than there are within. The trick of the whole sponsorship deal is to get somebody else to at least pay for some of the training. You are fools to believe that the only company to work for is BA, stop wasting your time and get the KLM UK, Virgin, Jersey, Air 2000 etc applications and fill them in asap! You have nothing to lose. It may get you a job whereas you may wait all your life for BA, so don't !
I am speaking from experience, I applied twice to BA and to BM, (the only two at the time) and eventually ended up spending my own money. For the record I have an honours degree in Aeronautical eng, a masters in Aerodynamics, but that will only help you for the ATPL tech exams!!
SO remember, 90%+ of all airline pilots at the moment did not get sponsored, so if you really want to fly I suggest that you SERIOUSLY start planning to spend your own money too. In the meantime if you get sponsored then great, have a party, otherwise it is a long hard road and a lot of work.
Keep your chin up though all you wannabes, it IS WORTH IT in the end. I made it myself, the hard way, but when you get to fly A320's for Sir Bishop and have a great time doing it then the hard work has payed off.
Good luck for the future, (JT8 at least you have started off in the right way)