Julio Martínez, under investigation in the Plus Ultra bailout case, alleges that José Luis Rodríguez Zapatero played a decisive role in securing public funds for the airline. The case highlights high-level involvement in pandemic-era financial aid.
Former Spanish Prime Minister José Luis Rodríguez Zapatero has been named as the central figure in the controversial bailout of Plus Ultra, according to a statement submitted to the Audiencia Nacional by Julio Martínez Martínez, administrator of the consultancy Análisis Relevante. Martínez, who is under investigation for alleged irregularities in the allocation of €53 million in public funds to the airline, claims Zapatero was responsible for setting the strategy that led to the rescue package.
In the document, seen by EL PAÍS and first reported by El Mundo, Martínez asserts that Zapatero, leveraging his status as a former head of government and his professional network, was instrumental in bringing Plus Ultra and three other companies to Análisis Relevante as clients. Although Zapatero did not appear as a shareholder or formal executive, Martínez describes him as the de facto leader, making all key decisions on strategy and client acquisition.
Martínez, who is scheduled to testify before Judge José Luis Calama, positions himself as a mere intermediary, stating he had no independent ability to secure public or private financing. He emphasizes that Zapatero, acting as a consultant, dictated the steps to be taken throughout the process. According to Martínez, it was Zapatero who introduced Plus Ultra executives to Análisis Relevante in May 2020, initiating the consultancy's involvement in the airline's search for financial support.
The statement details how Zapatero initially advised seeking an ICO-backed loan through Banco Santander, even requesting a letter be sent in his name to a vice president at the bank. When this approach failed, and after the creation of the Solvency Support Fund for Strategic Companies (FASEE) in July 2020, efforts shifted toward the Sociedad Estatal de Participaciones Industriales (SEPI), the public body managing the aid. Martínez claims Zapatero remained closely informed at every stage and played a decisive role until the end, personally communicating on 26 February 2021 that SEPI would grant the loan—days before the FASEE and the Council of Ministers officially approved the aid in early March.
The Plus Ultra bailout has been a focal point of scrutiny regarding the management of pandemic-era financial assistance in Spain. The SEPI, responsible for distributing state support to companies deemed strategic, has faced criticism over transparency and the criteria used to select beneficiaries. Plus Ultra, a small airline with limited market share, became emblematic of these concerns after receiving a substantial rescue package. The ongoing investigation seeks to clarify whether political influence played a role in the allocation of funds and whether proper procedures were followed. The case underscores the complexities and potential risks involved when public money is used to support private enterprises during crises, and highlights the importance of oversight in government aid programs.
