Desperate airline auctions off art collection to survive Covid-19

Russian painter Wassily Kandinsky’s Ohne Titel (Komposition) is also up for grabs in the ‘Rembrandt To Richter’ sale.

With the International Air Transport Association predicting that the aviation industry will lose US$84.3bil (RM359bil) 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 £27mil a day (RM144.29mil) in reaction to the pandemic.