Otterman,
The BA pension fund's value is on the books with BA. Fluctuations in it's value and coverage factor directly affect the financial position of the airline. I have seen the Financial Times referring to BA jokingly as 'that pension fund with an airline attached to it'.
For AF & KLM this does not apply, since the pension fund for pilots, cc and other staff are independent of the airline. AF and employees pay premiums into it, but the actual value of the fund and fluctuations thereof do not appear on the companies' books. Worst thing that can happen is that premiums go up a couple of percent to make up for lost coverage factor due to stock portfolio decreasing in value / lower interest rates. No expert, but I think it's the same for Lufty.
Sorry for the confusion, it's probably a UK thing to have the pensions on the books...
LH