Ex-CEO of Plus Ultra Says Firm Hired 'Zapatero Group' to Push for Bailout
The former CEO of the Spanish airline Plus Ultra has given evidence to a judge in a court case.
He said the company hired a group of people connected to former Spanish Prime Minister José Luis RodrÃguez Zapatero.
This group is known as the 'Zapatero group' in the case.
According to the ex-CEO, the company paid this group to pressure SEPI, a Spanish state fund.
The goal was to push SEPI into approving a bailout for the airline.
A bailout is money given by the government to help a company survive.
Plus Ultra received public money from SEPI during the Covid-19 pandemic.
The ex-CEO also said the company agreed to pay 1% of the rescue money to the Zapatero group.
This payment was apparently a deal for their help in getting the loan approved.
In addition, the ex-CEO said the group told them, a week before the bailout was approved, that it would happen.
This suggests the group may have had information in advance about the SEPI decision.
The case is being investigated by a judge, who is looking into how the bailout was approved.
Questions have been raised about whether outside pressure influenced a public decision.
Plus Ultra has faced controversy in Spain since receiving the rescue funds, with critics questioning the airline's size and links to Venezuela.
The judge's investigation will determine whether any laws were broken during the process.
Vocabulary10 words
- bailout
- money given by the government to save a company
- state fund
- a government body that manages public money
- pressure
- to strongly influence someone to act
- CEO
- the top boss of a company
- evidence
- information given to a court
- approved
- officially agreed to
- public money
- money that belongs to the government
- investigated
- carefully checked by police or a judge
- controversy
- public disagreement about something
- deal
- an agreement between two sides
Quiz
Answer key
1. The company hired a group linked to Zapatero to pressure SEPI 2. 1% 3. One week before it was approved
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
The former CEO of the Spanish airline Plus Ultra has given _____ to a judge in a court case.
He said the company hired a group connected to former Prime Minister José Luis RodrÃguez _____.
This group is known as the 'Zapatero group' in the _____.
According to the ex-CEO, the company paid this group to _____ SEPI, a Spanish state fund.
The goal was to push SEPI into _____ a bailout for the airline.
Plus Ultra received public money from SEPI during the Covid-19 _____.
The ex-CEO also said the company agreed to pay _____ of the rescue money to the Zapatero group.
This payment was apparently a _____ for their help in getting the loan approved.
The group told them, a week before the bailout was approved, that it would _____.
The case is being _____ by a judge.