Aer Lingus plans to sell art collection to raise funds and the National Gallery confirms it owns a Rembrandt.

Later this month, Aer Lingus will put part of its art collection on sale in the hope of bringing in a much-needed half million pounds.

25 paintings will go on sale.

Works by Nathaniel Holme, Louis le Brocquy, Gerard Dillon, and Jack B Yeats among others will go up for auction in the hope of helping Aer Lingus build back up its finances.

Auctioneer John de Vere White is confident that a good price will be achieved for the paintings and believes that the provenance of the paintings will encourage the buying public.

People love to know a good provenance and there's no better provenance than Aer Lingus.

Meanwhile, the National Gallery of Ireland has confirmed one of its paintings is a Rembrandt and worth millions. According to Director of the National Gallery Raymond Keaveney, the are no plans to sell it.

An RTÉ News report broadcast on 1 November 2001. The reporter is Colm Connolly.