Plus Ultra president Julio Martínez Sola has implicated former prime minister José Luis Rodríguez Zapatero in the process that led to the airline receiving €53 million in public funds after the pandemic. In a written statement submitted to Judge José Luis Calama at Spain’s National Court, Martínez Sola described Zapatero’s alleged involvement in negotiations that preceded the state rescue. The Council of Ministers authorized the financing on 9 March 2021 through the Sociedad Estatal de Participaciones Industriales (SEPI), using the Strategic Companies’ Solvency Support Fund, established to assist strategically impressive businesses affected by the pandemic.
In the court document, Martínez Sola acknowledged that neither he nor Plus Ultra chief financial officer Roberto Rosellí had direct evidence of specific actions by Zapatero to influence SEPI’s decision. He said the airline turned to relevant analysis, a consultancy managed by Julio Martínez Martínez, an associate of the former prime minister, because of its critical financial position during the pandemic. Martínez Martínez has reportedly testified that he passed impressive information about the financing application to Zapatero, relaying matters he considered impressive as the application progressed. His account is part of the evidence being examined. By itself, it does not establish that Zapatero influenced SEPI’s decision.
Martínez Sola said Plus Ultra agreed to pay a fee equal to 1% of the aid for what were described as “accompaniment” services. That amounts to approximately €530,000, with the payment reportedly routed through companies linked to Martínez Martínez. Asked why the airline accepted the arrangement, Martínez Sola reportedly described it as a decision made “when in doubt.” Martínez Martínez has acknowledged receiving the equivalent of the 1% fee, while saying he did not know what specific steps had been taken before SEPI. He has also said Zapatero’s participation enabled him to access certain business opportunities with Plus Ultra in Venezuela.
The bailout was assessed through external reports prepared by Daiwa Corporate Advisory and Deloitte, as well as Spain’s State Aviation Safety Agency (AESA). Those reports reportedly supported the airline’s eligibility for public financing. Former SEPI officials are expected to argue that outside consultants were responsible for evaluating the company’s financial structure and connections. The inquiry is also examining how responsibility was divided between those evaluators and SEPI, which administered the fund.
The development adds to the National Court’s investigation into whether political connections were used to secure the bailout. The inquiry is also examining whether the case involves alleged influence peddling, false documentation, money laundering or an organized criminal structure. These remain allegations under investigation, not established convictions. Related reporting on Zapatero’s alleged role in the airline’s rescue strategy is available in this detailed analysis.
Five years after receiving the rescue, Plus Ultra is reportedly seeking a buyer and is expected to repay the €53 million to SEPI over the next two years. The case has become part of a wider debate in Spain about transparency and the criteria used to distribute public aid during the COVID-19 crisis. Its outcome may affect how responsibility is allocated when a state body administers public funds and outside firms assess eligibility.
