Zapatero Earned 45% of Friend's Company Income Linked to State-Rescued Airline

Spain - Ekhbary News Agency

Zapatero Received 45% of Friend's Company Revenue Tied to Plus Ultra Rescue

Madrid - An in-depth investigation has uncovered that José Luis Rodríguez Zapatero, the former Prime Minister of Spain, served as the principal supplier for 'Análisis Relevante' (Relevant Analysis), a company managed by his associate Julio Martínez. This company acted as an intermediary for the airline Plus Ultra, which recently received a state bailout. The findings indicate that Zapatero's earnings from this firm accounted for a substantial portion, at least 45%, of its total income, raising significant questions about the nature of their business relationship.

According to information obtained by the newspaper EL MUNDO, Zapatero personally collected an average of €75,000 per year from Análisis Relevante Sociedad Limitada, a company administered by Martínez. This income represents a minimum of 45% of the company's total revenue, based on its limited accounts filed with the Mercantile Registry.

The company's records show that Análisis Relevante is currently in a state of 'deregistration,' meaning it has been blacklisted by the Mercantile Registry for failing to meet its obligations, specifically for not submitting its financial accounts for 2024 and 2025. Despite these administrative issues, other filings indicate that the company reported total revenues of €650,522 from its inception in February 2020 up to the end of 2023. Notably, the company declared zero employees, and the bulk of its expenditure was not on personnel but on 'other operating expenses.' This accounting category typically encompasses payments to third parties or subcontracting costs. If only these 'other operating expenses,' exceeding €555,000, are considered, Zapatero's income from this specific segment alone represents approximately 55% of those funds.

In statements made to EL MUNDO, Zapatero acknowledged offering his consulting services as a self-employed individual to Análisis Relevante, providing reports on 'global advisory matters,' including written analyses of the geopolitical landscape. He framed these payments as part of his ongoing consultancy work, which he stated he undertakes through 'reports, meetings, travel, seminars, or publications.'

With gross earnings admitted to be €450,000 over the last six years from the company managed by his friend, Zapatero emerges as its primary supplier. This figure does not include any potential payments made to other family members. It is noteworthy that Whatdefav, a company owned by Zapatero's daughters, which offers advertising and brand support services, lists Análisis Relevante as a client on its website.

Furthermore, Julio Martínez's company, Análisis Relevante, is listed among the suppliers provided by Plus Ultra to the State Industrial Participation Company (Sepi). Invoices were to be paid once the airline secured its public rescue package. The official corporate purpose of Análisis Relevante is 'the provision of support, advisory, consultancy, and similar services in the field of organization and management, including the definition and preparation of reports and studies on strategies and market analysis.'

These revelations raise pertinent questions regarding the transparency of dealings between former high-ranking officials and companies receiving state aid, particularly amidst challenging economic conditions. A company with no employees, heavily reliant on payments from prominent political figures, and acting as an intermediary for a state-rescued airline, prompts a discussion on business ethics and the necessity of robust oversight to ensure integrity in commercial transactions.

Plus Ultra, a Spanish airline founded in 2011, faced severe financial difficulties, necessitating government intervention and a financial aid package in 2022 to ensure its continuity. Zapatero's role as a 'consultant' post-presidency continues to draw scrutiny, especially when his advisory services appear connected to companies transacting with or receiving support from the state.

The examination of these financial ties exposes a complex network of interests that could potentially influence public business decisions. This situation underscores the need for greater transparency and accountability to prevent the exploitation of public office for personal gain or that of associates, especially when public funds and state-supported entities are involved.

Ekhbary News Agency