British Airways to sell art collection to raise cash

British Airways (BA) is selling some of its multi-million-pound art collection to raise cash to help it through the coronavirus pandemic, Jordan News Agency (Petra) reported Thursday.

It said the collection includes art by Damien Hirst, Bridget Riley and Peter Doig, with one work believed to have been valued at more than US$1 million.

It is understood at least 10 pieces have been identified for sale, although exactly which ones is unclear.

BA has seen a collapse in air travel and is set to cut thousands of jobs.

Last week, BA chairman and chief executive officer Alex Cruz warned that the cash-strapped airline's survival was at stake unless there was a drastic restructuring of the business.

London's Evening Standard newspaper, which first reported news of the art sell-off, said auction house Sotheby's had been brought in to arrange sales as soon as possible, Petra reported.

-- BERNAMA