BA management played a very smart game by allowing this deficit, and to let it grow, even in years where enough money was coming in to make good on its contracts. This has already resulted in a major reduction in the whole pension scheme at BA. I am sure this crisis will be used to put the nail in the coffin of what is left. It is the Anglo-saxon way of doing business. Let the bonuses roll!
BA did no such thing. In fact in the late 90s the pension funds was doing so well that BA was compelled under government rules to take a payment holiday from APS and in NAPS our benefits were improved. The government has brought about the demise of most final salary schemes (except their own of course) and the cost of winding up the scheme is actually so prohibitive that BA is stuck between a rock and a hard place - they cannot afford to wind it up and, by all accounts, the deficit is getting larger.
Regarding flight times and crew numbers. Calgary is 9+ hours and I find it extraordinary that people think it is acceptable to have two individuals effectively sat at the controls without any meaningful break for longer than they themselves might even sit at a desk.
Larnaca flights which are operated by some airlines there and back by the crew entail a very long duty and often overnight. Some people wonder why fatigue amongst flight crew is a problem!
Just because the cut throat world of the low cost airlines has led to crews flying to absolute legal limits and driven the cost of a seat down to unsustainable levels which, combined with the current world economic situation, will result in the collapse of an airline or two does not benefit anybody in the long run. Once capacity has been slashed by the demise of said airlines just watch the seat prices rocket.
BA has many problems not least of which is the legacy of having been a nationalised industry but like any other company with that background changing years of overmanning and extravagant or restrictive practises takes years of difficult negotiation with stubborn and obstructive unions 'protecting' their members. This is crunch time and either BA responds rapidly and effectively or sinks.
Ignoring the usual anti-BA rants here I think very few people will see the demise of BA as something to be welcomed.