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Airline companies are the worst hit when it comes to the economic crisis caused due to Covid19. Several employees deprived of their jobs, many of whom have fallen into depression of whose dramatic results we are seeing. The question is: how to survive? British Airways seems to tackle bankruptcy by auctioning part of its collection.

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In the midst of a struggle with unions, the airline company intends to implement a layoff plan for thousands of employees within the next few days, and also to auction its art collection to save the savable. An act of survival declared by CEO Alex Cruz, who exposed himself by admitting this serious economic instability. But the whole process seems to be a secret. Yet, rumours of the corridor, speak of an idea moved by the staff ... "to extreme evils, extreme remedies". An internal source reports "We are in a very dark place. We are doing things we have never done before, ”said one BA source when asked about the art sale. "When the ship is going down we can't hold on to all these things.”

The sales project involves an auctioning of a dozen works, not yet disclosed, some of which are worth over one million pounds. The auction, first reported by U.K. newspaper The Evening Standard, will mainly include British artists, such as Damien Hirst, Peter Doig, Anish Kapoor, Chris Ofili, Tracey Emin and Bridget Riley. The collection has been exhibited in the British theatres for over 30 years. According to the British newspaper Evening Standard, the operation was entrusted to the expert eye of the Sotheby's auction house, with the aim of an immediate sale. 

 

Composition with Circles by Bridget Riley at Tate Britain ( PA )

 

In this regard, it seems that one of the most quoted works - currently located in an executive room in Heathrow - is signed by the painter Bridget Riley. According to a statement released to the BBC, the two curators Susie Allen and Laura Culpan affirm that, although the company had never purchased in this area for the purpose of economic investment, the value of some works, signed by artists discovered at the beginning of their career, it has grown considerably. In doing so, the British company is preparing to farewell to its treasure. 

Cover image: Nicolas Economou | NurPhoto | Getty Images.

Stay Tuned on Kooness magazine for more exciting news from the art world.
 

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