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Mr Walsh said: "These changes are necessary to clear the past deficit and to
contain the amount of future funding needed.
"It means working longer to get a similar annual pension but one that is more
secure.
"This should address the pension problem at British Airways once and for
all."
Mr Walsh said the planned changes will reduce the anticipated deficit in the
pension scheme by #450 million.
"This package of measures is vital if we are to achieve a competitive cost
base, deliver a 10% operating margin, be fit for growth and invest in our
future."
The Transport & General Workers Union, which has 20,000 members at BA, said
the pension rescue plans would mean "more pain" for the workforce.
National officer Brendan Gold said he believed the package of measures could
have been brought forward some time ago to give unions more time to study the
details.
He said injecting #500 million into the scheme only on condition that staff
accept the changes was an "unnecessary touch".
He went on: "If the money was there it should be put in up front to show the
company recognised its responsibilities properly.
"It was no secret that BA's pension funds were in deficit but we still don't
really know if today's measures will be the right ones for our members and for
the scheme."