The executives of Plus Ultra explored various avenues to secure the public aid they considered necessary to revive the airline in the midst of the pandemic. The Central Unit for Economic and Fiscal Crime (UDEF), in a report accessed by EL PAÍS, indicates that once the airline made contact with the “Zapatero Group,” as they refer to the group formed by Spanish businessman Julio Martínez Martínez and Venezuelan Manuel Fajardo, the first course of action explored by them was obtaining an ICO loan through Banco Santander. “How do you see the Zapatero/Santander issue?” asked the owner of Plus Ultra, Rodolfo Reyes, to his financial director, Roberto Roselli, on May 26, 2020. “Well, we talked today. It seems he pushed hard. I think something might come out,” he replied. “They get paid if they move,” Reyes clarified.
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UDEF directly states that “José Luis Rodríguez Zapatero and Julio Martínez Martínez initially explored the possibility that the company would obtain an ICO loan through the financial institution Banco de Santander to later, after discarding the initial route, work on obtaining a loan charged to the Strategic Companies Solvency Support Fund (FASEE), managed by the State Industrial Holdings Company (SEPI).”
This is based on communications found on a mobile phone of Reyes that were in the possession of the United States and have been sent to the Spanish authorities as part of the investigation led by the National Court and promoted by the Anti-Corruption Prosecutor’s Office regarding the alleged existence of a scheme led by Zapatero that would have been dedicated to selling his influence and collecting through a “financial boutique” designed to erase the money trail.
“I received a call from Julio Martínez (Zapatero). When you’re having coffee, call me,” Martínez Sola told Reyes on May 22, 2020, in a conversation in which he attached a key contact: “Vice President Banco Santander Spain and General Director of Communication – Juan Manuel Cendoya.” Shortly after, on the 25th, Roselli created a file on his computer containing a letter addressed to Cendoya requesting said loan, expressly indicating that it was by “instructions” from Zapatero. The next day, the owner of Plus Ultra wanted to know what results they were getting through that route. “How do you see the Zapatero/Santander issue?” Reyes asked. “Well, we talked today. It seems he pushed hard. I think something might come out,” the other replied. “They get paid if they move,” his boss stated.
That same day, May 26, Martínez Solá spoke with Reyes. “A few minutes and I’ll call you.” And seconds later he added: “Okay, let’s trust in a positive resolution. A hug.” Hours later, the vice president of Plus Ultra conveyed to the owner an alleged message from Martínez Martínez: “Good evening Julio. Long day, I was busy earlier. I have forwarded your message and we are following up on the matter. A hug.”
However, those efforts seem not to progress. “I’m Julio Martínez (Zapatero), when you’re having coffee call me. For now, neither hot nor cold,” Martínez Sola wrote to Reyes on June 1, 2020. That same day, the financial director updated the Spanish businessman on the approaches Plus Ultra had made to Santander “since the start of its operations.” And he recounted: “Currently, we have a position of approximately €1M which is 100% guaranteed by the guarantee of one of the partners. In the last two years, we have tried to increase positions with the bank (line of credit / confirming / payment gateways) but we have always received the bank’s refusal. The reasons have been the risk in the sector in which we operate, the youth of the company, and the negative results of the last two years due to the large investments made to face the planned growth.”
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At the same time, he informed him that, as they had previously agreed, he had sent an email requesting a meeting. The appointment would have taken place on June 6. “On behalf of Plus Ultra, Roberto Roselli, financial director, participated, and on behalf of Santander were Jaime Ribes, agency director, and José Javier Castellanos, area director,” Roselli detailed to Martínez Martínez a few days later. “So far Santander has not communicated,” he warned him, to which Zapatero’s friend replied: “There hasn’t been time, we claimed it today.”
Judging by the exchanged messages, that course of action was still not working because on June 16 Roselli noted to Reyes: “The other ionic chapter is the start-up we must finance. Hopefully, the Santander issue moves to see if the order comes down this week.” “How do you see that?” Reyes asked. “Well, we talked to him yesterday and he says the order will come down this week and that it hadn’t come down yet. Let’s see what happens this week. But they should give us a normal credit so that when an ICO comes out again they give us the equivalent amount. For now, zero results, let’s hope this week,” summarized the financial director. Nothing was heard again until June 22, when Roselli wrote to Reyes: “I spoke today with our Santander executive to activate the ICO request for €5m. Tomorrow he confirms to me that the one we previously had has been reactivated or a new one executed. As soon as he confirms tomorrow, I’ll let you know.”
They also tried with La Caixa
According to the report, in addition to carrying out procedures with Banco Santander, the investigated “had meetings with other financial entities” to which they sent “financial information of Plus Ultra.” The agents highlight that the scheme knocked on the door of “the large companies section” of a La Caixa branch in Alcobendas (Madrid).
“La Caixa saw positively if Santander enters, the possibility of entering themselves as well (sic),” reads a message that Plus Ultra’s CEO, Roberto Roselli, sent to Martínez Martínez on June 23, 2020. In the same text, the airline executive explained that they had conveyed to La Caixa “the entire Plus Ultra operation, as well as the investment and growth plans.” According to him, they also informed the bank of “all the cargo operations” and of “the need for financing through the ICO” for the start of operations.”
Two days later, Martínez Martínez asked Roselli for the “positions in transit” in “Spanish banks.” The CEO pointed to Santander, Banco Popular, BBVA, and Bankinter. However, the investigators emphasize that “the procedures related to the loans, guaranteed by the ICO, ultimately did not materialize.”
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