Brussels, 26/07/2001 (Agence Europe) - The European Commission has cleared aid of EUR 93 million paid by Spain to the Trasmediterranea shipping company, to liquidate the public service contract concluded with the State between 1978 and 1997. The Commission also decided not to raise any objections to aid of EUR 9.9 million for compensating public service obligations carried out by the company, in 1998, between the Canary Islands. In February 2001, the Spanish parliament had approved a bill allocating extraordinary aid of EUR 93 million to Trasmediterranea, to compensate for the net deficit resulting from the provision of services during the year 1997 and the adjustments linked to expiry of the contract end 1997. "The Commission took the view that this aid was linked to the rights and obligations arising during the period covered by the contact and represented the balance of compensation due to Trasmediterranea for providing maritime cabotage services from 1978 until the end of 1997. It therefore decided to authorise the aid", states the Commission press release.