Bailout commissions and advance notice

Former Plus Ultra chief executive Roberto Roselli testified for nearly three hours on 8 September 2026 before National Court Judge José Luis Calama and Anti-Corruption Prosecutor Elena Lorente. Roselli confirmed that the airline paid a 1% success fee, amounting to €530,000, from the €53 million government bailout it received in March 2021 during the Covid-19 pandemic. The payment was transferred to Análisis Relevante, a company owned by Julio Martínez Martínez, a business associate of former Spanish Prime Minister José Luis Rodríguez Zapatero. Roselli stated that the airline entered into a contract for irrelevant consulting reports to camouflage the disbursement.

Roselli testified that Plus Ultra learned about the approval of state funds well before official publication. According to his testimony, Julio Martínez Martínez phoned the airline on 26 February 2021 to announce that the decision had been made. State holding company SEPI officially confirmed its support on 2 March 2021, and the Spanish Council of Ministers formally approved the rescue package on 9 March 2021. Roselli ratified statements submitted in writing in July 2026, which aligned with testimony given on 7 September 2026 by former Plus Ultra president Julio Martínez Sola.

“They raised the advisability of Mr Zapatero or Martínez Martínez intervening directly with SEPI officials to speed up the file. An attempt was even made to obtain a verbal guarantee that the aid would be granted, with the aim of using that expectation to obtain bridge financing from banking entities.”

Venezuelan ownership and regulatory compliance

During the interrogation, prosecutors focused on whether Plus Ultra met the legal nationality criteria required to receive money from Spain's Strategic Companies Solvency Support Fund. Roselli testified that Venezuelan businessman Rodolfo Reyes exercised effective executive control over the airline, holding a 64% stake alongside his Spanish wife, Aurora López. Although the airline argued that nominal ownership resided with López, European and Spanish regulations require ultimate operational control to remain in European hands.

“Under AESA's interpretation, Council Regulation (CE) 1008/2008 seeks to prevent effective control from being exercised jointly by non-European shareholder groups. In all cases where non-European nationals have significant influence, it must be ensured that ultimate decision-making power remains in the hands of European investors.”

Scrutiny of state oversight and bridge loans

Roselli, who served as the airline's chief financial officer before becoming CEO, stated that SEPI exercised minimal oversight over Plus Ultra's internal accounting prior to granting the aid. Investigators are examining bridge loans that the carrier secured from companies linked to Reyes in tax havens to balance its accounts before requesting public funds. Roselli told the court that SEPI did not investigate the origins of those loans, which are now under investigation for potential money laundering, nor did the agency monitor how the state funds were used to settle the private debts. Judge Calama has ordered former management to turn over all minutes of monitoring meetings held with SEPI.

Scope of the National Court investigation

Judge Calama opened the investigation into an alleged influence-peddling network surrounding the 2021 airline bailout and related transactions. The court has placed Zapatero under investigation in connection with the case. The inquiry also encompasses €1.3 million in undeclared jewelry discovered by National Police in Zapatero's office. Defense lawyers for Roselli and Martínez Sola have agreed to submit requested corporate documents, banking records, and SEPI meeting records to the court.