Last week it was reported that in December of this year Milanese auction house Finarte Casa d'Aste will hold an auction, which will display works from the collection of the bankrupt airline Alitalia. The representative of the Italian government of Augusto Fantozzi (Augusto Fantozzi), dealing with the question of bankruptcy of the company, has ordered about selling some 200 works. It is expected that the meeting would bring a minimum of 1 million euros.

Alitalia basis of the collection includes works by the Italian modernist 1950's and 1960's. One of the most famous works is the picture of the famous futurist Gino Severini (Gino Severini), which the company commissioned to decorate his Paris office. In the meeting also lots of graphics - to the entire auction will be 140 works on paper, including works by Alberto Burri (Alberto Burri) and Lucio Fontana (Lucio Fontana).

Alitalia was founded in 1946. In December last year, the Italian Government sold the airline group of local investors. The deal amounted to 1.05 billion dollars (which includes part of the debts of the company). Augusto Fantozzi is trying to sell unprofitable assets to repay creditors, including the state, lent Alitalia 300 million euros. In January the company sold 25 percent of its shares to a group Air France-KLM.

Material prepared Yulia Maximova, AI

Source: bloomberg.com , artinvestment.ru