British Airways BA BAW SHT SHUTTLE is the flag carrier of the United Kingdom, owned by IAG International Airline Group IAG and member of Oneworld aviation alliance.British Airways plans to auction off art worth millions as the airline looks to raise capital amid the coronavirus crisis., will include works from Damien Hirst, Peter Doig and Bridget Riley, with one of the pieces valued at more than £1 million .
At least 10 artworks from the airline's collection, which had previously been on display in its airport lounges, will be put up for sale.Both BA and Sotheby's declined to comment when contacted by CNBC. BA has faced immense financial pressure amid the coronavirus crisis, with the outbreak forcing flights to be grounded and suppressing demand for travel.
JTGenter OneMileataTime
Airlines, as a rule, remain toxic to smart investors. It won't always be that way, but it is today and for the foreseeable future. Avoid, or short them. Only way to play. Might be a small bounce back from yesterday today, but don't be fooled.
Why do they have art worth millions?
Airline Art?
WeAreBritishAirways StandWithBAWorkers BAStopThinkAgain BAstopredundancies BAbetrayal Handbacktheflag backinthehold BaBetrayal BorisJohnson
The airline industry is good for flying the covidcoffins to supply the hospitals. The mighty proud US is giving up by leaving the WHO to plan for 200,000 deaths and the world could reach 2 million deaths by the yearend. The US president has been excited with these grim numbers.
How does art improve the operation of an airline? Investors think they own aircraft, and maybe have the odd expense of a pen or two. When they look at the financial statements do they realize their fortunes depend on an art auction?
Probably a more efficient use of corporate assets that way.
Time to look at high speed trains to replace domestic air transport on every continent
Sell off everything not nailed to the floor!!
world's largest gloves producer says coronavirus pandemic may lead to condom shortage.. COVID19
I’ve discovered Karen’s Kryptonite