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Copyrighted logo of Alitalia airline used under fair-use rationale, as a logo is a unique entity. Low-resolution logo obtained through Wikipedia complies with Wikipedia content policy, logo guidelines, and fair use under United States copyright law. This is a logo of an organization that is otherwise protected by copyright and is possibly a trademark.

Alitalia auctions off paintings to pay debt

Catherine Saunders-Watson
Catherine Saunders-Watson
Copyrighted logo of Alitalia airline used under fair-use rationale, as a logo is a unique entity. Low-resolution logo obtained through Wikipedia complies with Wikipedia content policy, logo guidelines, and fair use under United States copyright law. This is a logo of an organization that is otherwise protected by copyright and is possibly a trademark.
Copyrighted logo of Alitalia airline used under fair-use rationale, as a logo is a unique entity. Low-resolution logo obtained through Wikipedia complies with Wikipedia content policy, logo guidelines, and fair use under United States copyright law. This is a logo of an organization that is otherwise protected by copyright and is possibly a trademark.

ROME (AP) – Nearly 200 paintings and drawings by contemporary Italian artists have been auctioned off to help pay creditors of troubled Alitalia airline.

The Finarte auction house said Thursday the sale fetched euro1.2 million ($1.77 million).

The artwork was among Alitalia assets taken over by a bankruptcy administrator, who has been selling them off to pay off some of the airline’s debts. A smaller version of the money-losing carrier launched last January after a group of Italian investors merged it with smaller airline Air One.

Georgia Bava of Finarte said the pieces had originally been displayed on Alitalia’s fleet. Recently, they were in storage.

An abstract painting by Lucio Fontana fetched the highest price, euro48,000 ($70,754).

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AP-CS-12-10-09 1028EST