My experience with Aerofan is limited, but I would not say their airplanes were the best equipped or maintained I have ever flown. Neither were the worst, in all fairness.
However, the biggest problem I see though is not so much the school itself as the airport they fly from. From a safety point of view, Cuatro Vientos is overcrowded with small aircraft and helicopters, and under-equipped to handle all the traffic in a safe manner. It is also unusual for Spain in that you are not flying in controlled airspace so you do not get the level and quality of experience you would normally get elsewhere in that country. Lastly, it is VFR only which makes it rather awkward for IR training, as you would imagine.
Oh, one last thing... I find Madrid to be a dump, but that's an entirely personal view.
As I said, nothing against Aerofan, I just think there are better options out there.