Desperate times call for desperate measures and with a lack of travelers to fill its planes, British Airways may be turning to its art collection to raise funds, sources told the Evening Standard.
Valuable pieces of art line British Airways lounges around the world and its headquarters near London's Heathrow Airport with one piece, the Evening Standard reported, worth over $1.1 million.
The UK's flag carrier wouldn't officially comment or confirm that its artwork is for sale when asked by Business Insider. Among those artists featured in the airline's collection, however, include Damien Hirst, Bridget Reily, and Peter Doig, according to the Evening Standard.
The pandemic has crippled business at many of British Airways' most profitable destination regions including China and North America, especially the London-New York route which earned the carrier over $1 billion in previous years. As a result, 12,000 jobs at the iconic airline are at risk as executives at British Airways' parent company predict a slow return to normal.
British Airways hasn't revealed how much pandemic has cost on an hourly basis but rival airline Lufthansa was reported by Business Insider Deutschland to be losing around $1 million per hour. The two operate a similar route network, connecting the world through their hubs in the United Kingdom and Germany, the demand for which has since dried up due to the pandemic.
Take a look at some of the airline's signature lounges found at airports around the world.