British Airways chief executive Willie Walsh announced today that he will work for no pay in July as part of his airline's cost-cutting programme. BA finance director Keith Williams will also work for free in July. The news came after BA offered staff the option of taking unpaid leave or working part-time following the announcement today of record annual losses of £401 million. Mr Walsh said: ``I want everyone seriously to consider these options. Personally, I do not want extra leave or to work part-time. ``But I certainly want to make a contribution in recognition of the extremely challenging position we face. This is no stunt. I do not easily give up anything I have earned.'' Mr Walsh is paid £735,000 a year and Mr Williams gets £440,000.