Airline

Airline companies raid the piggy bank amidst the coronavirus pandemic

With the International Air Transport Association predicting that the aviation industry will lose $84.3 billion due to the Covid-19 crisis, airline companies are finding new ways to make what little money they can.

That’s notably the case of British Airways, whose parent company IAG recently announced that it was losing cash at a rate of £27 million a day (around $33.8 million) in reaction to the pandemic.

In an effort to stem the bleeding, British Airways will auction 17 masterpieces from its corporate art collection across two auctions at Sotheby’s, scheduled for later this July.

Among them are Bridget Riley’s abstract “Cool Edge,” which is estimated to fetch between £800,000 and £1.2 million ($1 million and $1.5 million) during the “Rembrandt to Richter” evening sale on July 28 at Sotheby’s, London.

Formerly on view in a luxury lounge at London’s Heathrow Airport, this abstract masterwork was also briefly exhibited at

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