British Airways has announced that it will auction off various items from its art collection in an attempt to offset the financial strain the company has endured during the coronavirus pandemic.
But according to auction estimates the roughly $1.7 million the airline could raise is likely to be a drop in the bucket compared to the cash the airline is continuing to lose.
Sotheby’s will sell 17 artworks from the airline’s reportedly 1,500-piece corporate collection at two auctions this month, the auction house told Forbes in a statement Tuesday.
According to The Guardian, the auction of some of British Airways’ art collection will “demonstrate its commitment to making any savings possible before shedding staff,”
Carolina Martinoli the airline’s Director of Brand and Customer Experience said in a statement to Forbes: “We are fortunate to have been able to showcase a wealth of artists and creativity through our artwork collection, many of which have been a special part of the design of our lounges worldwide,”
“During this unprecedented time we have made the decision to work with Sotheby’s, one of the world’s leading and most trusted auction houses, to sell a number of pieces by artists including Bridget Riley and Damien Hirst. We look forward to them finding new homes with this sale.”