Intercontinental London Park Lane Hotel
5 June 2012

President Benigno S. Aquino III witnessed the signing of two agreements after leading a series of business meetings on the second day of his official visit to United Kingdom.

The first agreement is a Memorandum of Understanding (MOU) between Cebu Air Inc. and Rolls-Royce PLC that provides for the $280 million acquisition of Cebu Air, Inc. and Rolls-Royce PLC of new Trent 700 engines for up to eight leased Airbus aircrafts that the Philippine carrier will use to launch long-haul operations in the second half of 2013.

The second signing is a Joint Statement of Aboitiz Equity Ventures and Gaz Asia Ltd. to develop plants that will convert bio methane from waste materials into bio methane that can be used for vehicle fuel.

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