Air Europa, techniques gathered and volotea, the ones that most owe the SEPI with a sum of almost 1,000 million

Air Europa with 475 million is the company that owes the most and has not yet made any amortization of the rescue; It is followed by gathered techniques, which has amortized 33 million and has 307 left to return; and completes the Top 3 volotea with 200 million whose return has not begun either.

It was in mid -2020 when the Government gave the green light to the aforementioned fund. A mechanism endowed with 10,000 million euros under the umbrella of the SEPI with which to provide financial support to companies considered strategic. After the temporal framework that was enabled to request bailouts, until 2022, the phase ended with 73 requests for help for almost 5.4 billion; Of these were approved 30 applications for 3,255 million and ended up formalizing 28 by 2,680 million since two of them, hotels & resorts blue Sea and Grupo Celsa, ended up renouncing.

These companies received public funds for their delicate situation to get ahead. And if these do not end up returning the money, the SEPI can transform the participatory loans into capital and become a de facto ‘shareholder’ in them, which means in many cases take control. Debt capitalization is something that companies can also ask for SEPI in advance in case of difficulties.

In this situation it could be found Hard Felguerawhich received 120 million euros. The company, in fact, today faces a key board of directors for its future in which it is expected that the SEPI -which is already sitting in the Council with the category of external because it is not yet a shareholder- draw the issue of converting its debt In actions, as the first Prodi shareholder asked. If the conversion was consummated, the State would enter the shareholders and it would be the first company in which Raúl Masa reports.

And the latter also fits with the plans that Moncloa has in its intention to deepen the dream of having a great industrial conglomerate in the style of the former National Institute of Industry (INI) again, as ABC said. The objective is now, if the State did not achieve the final reimbursement of the credits granted through the phase to these companies -in which, in any case, in some it is already sitting in the Council or has chosen the manager after the request of the Rescue-, keep his control under the Pen of the SEPI, turning that debt into actions.

In addition, as this newspaper has published, since La Moncloa They are firmly leading their steps towards the creation of national business champions to stand up to the great competitors of our European partners.

Background balance

Thus, according to the rescue returns calendar that appears in the last annual accounts of the fund, corresponding to 2023, all the money should be reimbursed to the SEPI in 2029. Up to nine companies of the 28 that have received money have payments of its bailouts that year; the one with the highest amount, volotea.

Of the 2,680 million euros granted by the Phasecompanies have returned about 681 million euros in total and are pending around 2,000 million. These are the latest figures broken down by each company corresponding to 2023, plus some rescue amortization communications that have been made public in 2024 and 2025. Precisely yesterday, yesterday, RUGUI Steel He announced the total amortization of his rescue, which was initially 25.02 million. In addition to Rugui, the companies Ávoris (320 million), Wamos (85) and MEPs (45) are the others that have already returned the entire rescue.

Other companies such as Hotusa are accelerating the return even by having made anticipated amortizations for 108 million, leaving a balance of 133 million for reintegrating the SEPI.

Apart from this, up to eight companies have not begun to return the rescue. But as the public holding stands out in the last accounts of the phasee, “to date no beneficiary has disregarded the payment of its expired commitments.” What several companies have been done is to renegotiate the return period, such as in cases of volotea, hard feluera or anerificial.