A court suspends the rescue of Plus Ultra and gives it 5 days to justify it

Poster of the airline Plus Ultra in Barajas, Madrid. (Photo: Europa Press via .)

A Madrid court has suspended the rescue of the Plus Ultra airline, which has been given a period of five days to prove the need to receive the 34 million euros pending the loan of 53 agreed by the State Society of Industrial Participations (SEPI ).

On March 9, the Government gave the green light to the rescue of Plus Ultra with 53 million euros in loans from the SEPI’s Solvency Support Fund for Strategic Companies.

Plus Ultra was the second airline, after Air Europa, to receive help from this fund, created in July 2020 to support solvent and viable strategic companies that the pandemic has put in a difficult situation.

The airline has assured in a statement that it intends to prove “duly and within the term granted by the Court, the need to deliver the pending financing.” In addition, he recalled that he has already received the ordinary loan of 19 million.

According to the airline, this financing is “essential to comply with the company’s viability plan” and to maintain “the 354 direct jobs and more than 2,500 indirect jobs that the airline generates in Spain.”

The Court of Accounts accepted the complaint to investigate the operation

The Court of Accounts admitted to processing a little over a month and a half ago the Citizens’ complaint to analyze the rescue of the airline executed by the fund to support the solvency of strategic companies punished by the covid-19 that the SEPI created.

The first vice president, Nadia Calviño, has defended that the Government has acted at all times with “prudence and responsibility” in the public rescue approved last March.

“Public management has to be marked by two principles, prudence and responsibility, and these principles are, of course, those that have guided the economic management of our Government, especially when we are talking about the use of public resources,” he assured Calviño at the end of the Business Climate and Regulatory Improvement Sector Conference.

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Citizens’ complaint

Citizens denounced “the scandal of the millionaire and unjustified rescue of the airline, which has cost 53 million euros to the public coffers” in order to determine who are the accountants for the support operation.

The oranges want to know how much money “has been diverted with this scandal” and who are responsible, in addition to asking that the money be returned to the public coffers.

The complaint of those of Inés Arrimadas believes in the existence of an “alleged impairment” in public funds after the granting of financial aid to Plus Ultra “without the aforementioned company meeting the requirements to be a beneficiary of said aid.”

This article originally appeared on The HuffPost and has been updated.


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