IAG’s British Airways sells branded slippers, on-flight crockery to raise cash

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International Consolidated Airlines Group‘s (LON:IAG) British Airways has opted to empty its warehouses to plump its balance sheet.


Just months after resorting to selling the artwork exhibited in offices and airport lounges, including pieces worth over GBP1mln, the airline is now selling items such as champagne flutes and bedding to travel fans looking to recreate the onboard experience.


READ: Global airlines need another US$80bn to survive COVID-19 says trade body


Its 25%-owned Qantas has already run out of its bar carts, coming with mini bottles of wine and branded pyjamas, which were priced at US$1,474.70 including delivery.


On Monday afternoon, BA’s sale went live, with sets of 6 William Edwards china teacups going for GBP25 and Far East flights slippers only GBP10 a pair.


According to the BBC, the flight carrier is not only trying to cut its losses but is also relieving its warehouses from stock that will go unused.


In fact, its fleet and operations are expected to be trimmed even when the pandemic is over.


Last month, the wider IAG group posted a quarterly loss of EUR1.9bn, bringing the total full statutory post-tax loss of EUR5.6bn for the nine months to September 30.


To cope with the dismal trading brought by COVID-19, the FTSE 100 firm is cutting 10,000 British Airways and Aer Lingus staff.


Shares rose 5% to 166.19p on Monday afternoon, lifted by the positive vaccine news.

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