Plus Ultra Papers

On April 6th , I filed a complaint before the European Commission for illegal state aid delivered to the airline Plus Ultra. The European Commission sent my complaint to the Spanish Government and asked for explanations. The Spanish Government replied on April 27th  and attached as annexes the 10 documents from the Plus Ultra file that to this day it has refused to make public, which you can find below. The Commission sent me these documents on the May 5th and I submitted my response on May 20th which is available below as well. After studying the file that we obtained thanks to the European Commission’s demand to the Spanish Government, we concluded that the aid was clearly illegal, and we have denounced it in all possible instances. Today, justice has spoken and has suspended the payment of the second part of the bailout: the 34 million euros of participative loan. The European Commission may or may not carry out further investigations, but we have achieved our goal: an illegal aid that should never have come out of the pockets of the Spanish people will no longer be paid. Today I am making public the documents that the Government had to send to Brussels thanks to our work so that everyone can understand why it was necessary to paralyze the bailout.

Procedure at the European Comission

Complaint filed to the European Commission by Luis Garicano

Spanish Government’s reply

European Comission letter

Luis Garicano’s reply

File: Interaction between Plus Ultra and SEPI

Appendix 1: Resolution proposal to SEPI’s board

Appendix 2: Temporary bailout agreement

Appendix 3: Funding contract between SEPI and Plus Ultra

Appendix 4: Management agreement between SEPI and Plus Ultra

Appendix 5: SEPI’s Pledge contract over Plus Ultra’s shares

File: Internal and advisors’ reports

Appendix 6: Air Security State Agency’s report

Appendix 7: Civil Aviation General Management’s report

Appendix 8: Financial advisor’s report (Daiwa Advisory)

Appendix 9: Legal advisor’s report (Deloitte)

Appendix 10: Plus Ultra’s viability plan