Plus Ultra pays €3 million to SEPI as part of its loan repayment plan

Plus Ultra Líneas Aéreas paid €3 million to SEPI in March as part of the commitments undertaken in 2021 under the loans granted by the Spanish state holding company during the pandemic. With this payment, the airline has now paid a total of €12 million in interest.

The Spanish airline is up to date with its obligations to the public body and continues to meet its repayment commitments for the loans granted in 2021, which are scheduled to be fully repaid by 2028, the deadline established in the agreement.

Alongside this payment, and as has been the case with other airlines that benefited from these loans, SEPI and Plus Ultra have begun reviewing the business plan drawn up in 2021 and linked to the €53 million in financing received.

The aim is to adapt the initial forecasts to an environment that has undergone significant changes in recent years, mainly due to three factors: geopolitical tensions affecting routes and costs—Ukraine, the Middle East, Venezuela and Iran; high volatility in fuel prices, with increases of up to 100%; and a sharp rise in maintenance and component costs.

The review, as предусмотрено in the framework governing the Fund for the Support of Strategic Companies’ Solvency managed by SEPI, aims to incorporate the necessary adjustments to ensure the ultimate repayment of the loans granted by the State, while duly taking into account the current situation and market outlook in which the beneficiary operates.

Furthermore, Plus Ultra continues to show positive financial performance. According to the preliminary 2025 year-end results, the company has reported a net profit of €2.5 million and an EBITDA of €12 million, with revenues reaching €215 million. Equity remains positive, increasing by €2.4 million compared to 2025 and standing at over €32 million.