The head of Plus Ultra has confirmed that José Luis Rodríguez Zapatero was involved in efforts to secure €53 million in public funds for the airline. The case raises questions about political influence and the use of intermediaries during Spain’s pandemic bailouts.
The president of Plus Ultra, Julio Martínez Sola, has formally stated that former Prime Minister José Luis Rodríguez Zapatero played a direct role in the airline’s request for a €53 million public bailout during the Covid-19 crisis. According to documents submitted to the Central Court of Instruction, Plus Ultra sought the intervention of Zapatero and businessman Julio Martínez Martínez to accelerate the approval of state aid, which was ultimately granted by the Council of Ministers in March 2021.
Martínez Sola’s testimony details how, following advice from the company’s main shareholder, Rodolfo Reyes Rojas, Plus Ultra turned to influential contacts to secure urgently needed liquidity. The process began in April 2020, when Martínez Sola was put in touch with Zapatero, who indicated that further discussions should be held with his close associate, Julio Martínez Martínez, administrator of Análisis Relevante. The airline’s leadership later formalized a consultancy contract with Análisis Relevante, agreeing to pay €5,000 per month plus VAT for advisory services related to the bailout application.
Within eleven months of the initial contact with Zapatero, Plus Ultra received the financial support it sought. The company was one of six airlines to benefit from the Fondo de Apoyo a la Solvencia de Empresas Estratégicas (FASEE), a fund distributing €890 million to Spanish carriers hit by the pandemic’s collapse in air travel. Plus Ultra’s package included a €19 million ordinary loan and a €34 million participative loan, both managed by the Sociedad Estatal de Participaciones Industriales (SEPI).
Martínez Sola’s account also reveals that Plus Ultra paid a total of €527,000 to companies linked to Martínez Martínez, including Análisis Relevante, for their role in the process. The payments covered both consultancy fees and business-class airline tickets. The airline’s management admits that, at the time, they were aware that intermediary services would come at a cost, though no direct compensation was discussed with Zapatero himself.
The involvement of Zapatero and his associates has placed the former prime minister under scrutiny, with the ongoing investigation examining possible offenses including influence peddling, criminal organization, and document falsification. The case is being handled by Judge José Luis Calama at the National Court’s Instruction Chamber Number 4. The probe also looks into the flow of public funds received by Plus Ultra and whether any irregularities occurred in their use.
Plus Ultra’s eligibility for the bailout was confirmed after technical and political debate. The airline, which held a significant share of the Madrid-Caracas route, met the requirements set by FASEE: maintaining equity balance in 2020, presenting a viable recovery plan, and operating in a sector deemed strategic for Spain. External audits by Deloitte and DC Advisors, as well as reviews by the Tribunal de Cuentas, the IGAE, the National Accounting Office, and the European Commission, found no irregularities in the allocation or use of the funds. In June 2024, the EU Court of Justice dismissed a Ryanair appeal against the FASEE aid, confirming its compliance with European law.
Despite its niche market position, Plus Ultra’s rescue became a political flashpoint due to its connections with Venezuelan capital and the involvement of high-profile intermediaries. The company’s board included several Venezuelan executives, and investigations in France and Switzerland raised concerns about possible money laundering. Plus Ultra has since reported former board members in Venezuela for unauthorized use of company funds, further complicating the airline’s legal situation.
For additional background on the controversy surrounding Zapatero’s involvement and the commission arrangements in the Plus Ultra bailout, see this related coverage: Court receives written admission on ex-president’s role in airline rescue.
Plus Ultra, founded in 2015 with Venezuelan investment, operated a small fleet connecting Spain with Latin America. The airline’s financial difficulties during the pandemic led to the request for state support after banks declined to provide loans. The company’s accounts showed a 47% increase in revenue in 2019 and a workforce of 345 employees. The SEPI justified the bailout by citing Plus Ultra’s position among Spain’s top airlines by passenger numbers, though its overall market share remained modest. The case continues to draw attention due to its intersection of business, politics, and public funds in Spain’s pandemic response.
