The President of Globalia Defends Air Europa Rescues, Denies Politician Intervention
The President of Globalia, Juan José Hidalgo, has defended the rescue of Air Europa, stating that no one has intervened to rescue the airline, but rather received a loan with high interest, personally guaranteed by his assets.
Background
In November 2020, the Council of Ministers approved a loan of 475 million euros to Air Europa in two modalities: a participatory loan of 240 million and another ordinary loan of 235 million, to be repaid in six years from its signing. The loan was guaranteed by the Official Credit Institute (ICO) for 141 million euros.
Repayment and Guaranteed Loans
Hidalgo has emphasized that the loans from the State Industrial Participation Company (SEPI) will expire in 2026 and that 300 million euros have already been repaid. Additionally, the company received a high-interest loan, personally guaranteed by his assets.
Judicial Investigation into Air Europa Rescue
The judge investigating Begoña Gómez, the wife of the President of the Government, has focused on the aid obtained by Air Europa, aiming to find out about its execution, financing, and decision-making. The investigation focuses on alleged crimes of influence peddling and corruption in business.
The President’s Defense
Gómez’s defense has challenged the decision to request information about the bailout of Air Europa, citing that it is not "the subject of the present proceedings" and that there is no resolution establishing this.
Spanish Airways
Hidalgo has argued that Air Europa received aid in order to save the company and save the country’s economy.
