BA have paid off massive amounts of debt in the amazingly difficult trading conditions since 911... Circa £1.2 billion per year
True, but those are planned, obligatory payments determined at the start of the many debt structures financing the aircraft, whose presence is required to earn the company more money.
Earnings after interest and tax are what you should focus upon - those indicate that there is spare cash to be found - what can be used for the fund has to be balanced between future investment, ensuring promises are kept to some degree, and rectifying the appalling situation where everyone sat back and allowed new joiners to have an appallingly lower pension.