SpainThe Spanish government approved a rescue package for Plus Ultra in 2021 based on inaccurate ownership structure documentation. This has now been challenged by judicial revelations showing that Rodolfo Reyes, a Venezuelan citizen, held effective control over the airline with a 64% stake until October 2025. The Spanish Air Safety Agency (AESA) requires airlines to have majority Spanish ownership and effective control to qualify for state aid. The documents submitted to the State Participation Industrial Society (SEPI) in 2021 incorrectly stated that Reyes was a foreigner with a 64% stake, but internal documents show that Snip Aviation, which he represented, had only a 45.33% stake. Plus Ultra’s official representatives argue that Reyes was merely a representative of a Spanish-owned company, and that the 11.47% stake of FlySpain should be added to reach the claimed 64% ownership.
Bias read (Progressive): The article frames the issue as a potential illegality of the state aid granted to Plus Ultra due to discrepancies in ownership documentation. It highlights the involvement of a Venezuelan national in controlling the company, which could imply foreign influence, and questions the legitimacy of the 2
