Airline to sell-off its art gems
Alitalia holds nearly 200 significant modern works of art. Giuseppe Aresu/Bloomberg
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Friday November 28 2008
Alitalia, the bankrupt Italian airline, is selling off its multimillion-pound collection of modern art to help to reduce its crippling debts, as it prepares for a relaunch next month under new ownership.
The collection includes works by some of the 20th century's most bankable artists, including Salvador Dali, Giorgio De Chirico and Giacomo Balla.
Alitalia also holds paintings by the leading Futurist painter Gino Severini, who, towards the end of his life, was commissioned to paint works for the airline's Paris offices.
Art experts said Alitalia held nearly 200 significant modern works of art. While not all would fetch high prices, about a quarter of the collection was "extremely valuable".
In June a painting by Severini entitled 'La Danseuse' sold for £15m at Sotheby's in London, making it the most-expensive Futurist work yet auctioned. (© The Times, London)
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- Richard Owen in Rome
