The mystery of the 70 tonnes: ghost cargo or financial engineering?
The shadow of Plus Ultra looms over the Spanish public purse once again, this time with a figure that defies commercial logic: a flight operated with 70 tonnes of cargo and no passengers at all. While the average traveller deals with hand-luggage checks and excess baggage fees, the airline's operations raise questions about the true nature of its freight. Are we looking at a highly profitable cargo business, or a structure designed to justify capital movements under the umbrella of an airline bailed out with €53 million?
The physics of the flight versus accounting opacity
From a technical standpoint, the cargo capacity of an Airbus A330, the airline's flagship model, allows for 70 tonnes, with a maximum take-off weight of around 233 tonnes. The physical viability of the flight is not in question — its economic logic is. The suspicion running through the financial analysis is clear: a company that is officially unprofitable from passenger transport could be using its cargo capacity for other purposes. If freight were the core of the business, transparency about these operations is conspicuously absent, fuelling the theory that the public bailout served purposes other than mere operational survival.
The €53 million bailout under suspicion
The injection of €53 million in public money remains the turning point. A line of analysis suggests the airline operates as a shell structure where cargo transport could act as a vehicle for moving assets. The contrast between strict passenger controls, where travellers are penalised for every extra kilo, and the opacity surrounding 70 tonnes of cargo, paints a picture where freight rates seem to answer to a parallel accounting reality. The question that remains is whether the bailout was a rescue measure or a transfer of resources disguised as sector aid.
Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication.
Read the full discussion (16 replies).
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