Plus Ultra Líneas Aéreas is a Spanish-based charter based in Madrid. Originally planning to launch operations in Jan-2013, the carrier has been in ongoing negotiations with Spanish regulatory authorities in order to obtain its operating licences and permits. The airline received its AOC in Jul-2015 and launched operations on 04-Aug-2015. Plus Ultra Líneas Aéreas operates with fleet of two A340-300 on chartered services to European destinations. Long-haul service operations are also part of Plus ultra's strategy, as it launched Madrid-Latin American routes with Lima and Santiago. The carrier cancelled its Santiago service due to low demand. The long-haul airline was established by former director of Air Madrid Julio Martinez and is reported to have an initial capital investment of EUR100 million.