Ávoris pursues takeover of Plus Ultra to bolster Iberojet

The Barceló-owned tourism group Ávoris has entered preliminary discussions to acquire control of the Spanish airline Plus Ultra. The move is intended to strengthen Iberojet by integrating Plus Ultra’s fleet of seven Airbus A330 aircraft. This acquisition aligns with Iberojet’s strategy to homogenize its fleet by phasing out other models, such as the Airbus A350 and A320, in favor of the A330.

Ávoris has been in contact with both the airline's ownership and the Sociedad Estatal de Participaciones Industriales (SEPI) regarding the potential operation. While talks have been active for several weeks, no formal agreement has been reached. This represents a renewed interest from Ávoris, which had previously attempted a similar approach approximately one year ago.

Separately, former high-ranking officials from SEPI are facing scrutiny regarding the oversight of Plus Ultra’s financial ties during its rescue. Officials are expected to argue before a magistrate that external consultants, including Deloitte and Daiwa Corporate Advisor, were responsible for the assessments that deemed the airline eligible for 53 million euros in public funds. Investigations continue into whether loans from foreign entities controlled by Simón Leendert Verhoeven were used for money laundering.