SANTA CRUZ DE TENERIFE, 9 Sep. (EUROPA PRESS) –
The Government Council of the Canary Islands, upon the recommendation of the Ministry of Public Works, Housing and Mobility, has approved the reimbursement of 10,732,793.08 euros to the commercial entities Fred Olsen, SA and Naviera Armas, SA as compensation for the fare reductions on inter-island maritime transportation for residents of the Canary Islands for journeys made during the initial quarter of 2024.
This reimbursement relates to the subsidy allocated to Canarian residents for inter-island trips taken during January, February, and March with these two companies, which operate between the islands and receive a 25% subsidy from the Autonomous Community of the Canary Islands’ administration.
In this context, the Ministry is disbursing 6,928,153.34 euros to Fred Olsen, SA and 3,804,639.74 euros to Naviera Armas, SA, in accordance with Decree 222/2000, dated December 4, which establishes the bonus system for inter-island maritime travel for residents of the Canary Islands on a quarterly basis, as reported in a government statement.
Following the implementation of 75% of inter-island air and sea travel, as per the agreement with the State, there has been a significant increase in the mobility of residents in the Canary Islands due to lower fares and enhanced service frequencies.
Through this subsidy, both governments seek to strengthen and encourage mobility between the islands with reliable frequencies and competitive prices, fostering social cohesion within the archipelago.