The staff travel situation for retired staff has really taken wrong turn and needs complete re-examination, however it is a separate subject and I think better discussed privately. But if the company doesn't make it, there will be no staff travel for anybody....ever.
As far as pensions are concerned, my understanding is that when pensioners retire, their future liability is secured in better blue chip long term investments rather than more volatile investments. So a large part of BA pensions is invested in safer, though less exciting investments than those for future retirees. I believe a large part of the deficit is worked out for future liabilities, not for current pensioners, so there is no need to start selling assets and lying awake at night worrying. But someone, somewhere down the line, has to carry the can for what the politicians (both parties!) have done. They could not let the worlds most successful private retirement arrangements (funded out of private and corporate contributions!) be. They had to attack it, and in doing so, they have killed it off. WW and BA are not the villains of the piece.