"I understand that airlines require a degree but is my degree in MechEng ganna help me?"

Anything above a Bachelors degree is unnecessary as far as the airlines go. Knock yourself out, though, if that's what you want to do. The type of major is not important.

"Is being a minority a hindrance, an opportunity or will not affect me at all in this industry?"

Well, I think there was a time and place where it was an opportunity. Anymore, I don't think so. At the same time, not a hinderance at all.