The Julià Group requests a rescue of more than 30 million from SEPI. The company will have to present a viability plan that must be approved by the Council of Ministers.
The Julià Group , specialized in tourism and passenger transport services, has requested between 30 and 35 million euros from the State Society for Industrial Participations (SEPI) to face the impact of the crisis caused by covid-19. The rescue process – Julià goes to the fund for strategic companies – is in its initial phase, as confirmed by business sources.
According to the procedure, the company will now have to present a viability plan, SEPI will carry out a ‘due diligence’ and later the plan will have to be approved by the governing council of the public body and finally by the Council of Ministers. With this viability plan, it will be necessary to define what form the SEPI aid takes, but since it is a volume of just over 30 million, it may be a participatory loan.
According to the information advanced by the newspaper ‘El Mundo’, the company would thus join the list of tourism and transport companies seeking a “rescue” from SEPI in the face of the losses registered as a result of the pandemic.
Julià, with more than 85 years of activity, is one of the main Spanish business groups specialized in global tourism and mobility services. The company recorded a turnover of 343 million euros in 2019 and its structure includes 1,600 employees and a fleet of 450 vehicles on four continents.
With a presence in nearly 40 cities in 10 countries – Spain, Andorra, Great Britain, Italy, Mexico, Argentina, Puerto Rico, Morocco, the United States and the United Arab Emirates – it has more than 12 million clients internationally.
The collapse in tourist demand is behind this request for help that has led the group to request this injection of funds from SEPI, as have Air Europa, Naviera Armas or Globalia-Avoris (Barceló), Wamos to date or Plus Ultra or Hotelatelier, among others.