British Airways to Sell Corporate Art Collection in Bid to Stay Afloat

The British Airways Galleries First Lounge in Terminal 3 at London-Heathrow

British Airways said it will sell its corporate art collection, estimated to be worth millions, in an effort to stay in business.

The airline has an extensive collection of art by mostly British artists, including works by Damien Hirst and Peter Doig.  One work by Doig is worth well over £1 million ($1.26 million).  Many of the works have been on display in its airport lounges for decades.  BA has reportedly engaged Sotheby’s to appraise the collection.

“We are in a very dark place,” one person with knowledge of the plan told the Evening Standard.  “We are doing things we have never done before,” he said, adding that, “[W]hen the ship is going down, we can’t hold on to all these things.”

The idea to sell the art collection reportedly came from an employee in the course of soliciting advice on lowering costs to keep the airline in business.

(Photo: Accura Media Group)