British Airways will sell art it owns at an auction later this month, Bloomberg News reports.

A total of 17 art objects will be offered over two rounds of auction. According to the auction house Sotheby's, they are expected to fetch between 920,000 pounds and 1.4 million pounds, equivalent to 10.6-16.1 million kronor.

British Airways, which is part of the IAG group, is selling the art objects due to the corona pandemic, which has put the company's survival "at risk", according to previous statements from CEO Billie Walsh.

The airline has previously said it also intends to save costs by laying off 12,000 employees, almost a third of its staff.

Source:Finwire