Ken Yam/Unsplah
Commercial
Aviation
/ Europe
government aid
Madrid court to release 34 million euros to help Plus Ultra
By: Rafael Ramos
On: 8/11/2021
Airbus A340
Plus Ultra
Pedro Aragão, CC BY-SA 3.0 GFDL, via Wikimedia Commons
The Spanish airline, Plus Ultra, will receive the 34 million euros in state aid. Madrid's Court of Instruction No. 15 had frozen the aid money due to alleged irregularities in the grant made by the Board of Directors of SEPI (Spain's State Society for Industrial Participations).
The court had issued a request to suspend the aid because the need for the money had not been proven and because the guarantees to return the 53 million euros (of which 19 have already been paid) for the rescue are few.
However, the Spanish newspaper ABC reported that the court decided to release the money because it understood that, if the company did not receive the help, it could lead to the risk of permanent insolvency, which would be harmful to the company itself and to the passengers who they had already paid for some service in advance. Plus Ultra, in turn, needed to show that this money was the only way for the company to support itself with an expert report that found the need.
“A fundamental step on the path we are following to demonstrate all the manipulations, falsehoods and aggressions we suffer, not only the company but also our employees, partners and shareholders, whom we love. We thank you for your enormous dedication and commitment in these difficult times”, said Fernando García Manso, President of the company.
Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
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