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UK embassy welcomes deal between StanChart, Cebu Air

MANILA, Philippines - The British Embassy in Manila welcomed yesterday the multimillion dollar deal signed between Standard Chartered and Cebu Air Inc. for new Airbus planes.

“This is a fantastic example of British and Philippines business working together. Standard Chartered is one of the UK’s most successful banks and every Airbus plane has wings and avionics that are made in the UK. When fitted with Rolls Royce engines the UK content by value is more than 67 percent,” said British Ambassador Asif Ahmad  

“I am delighted that Cebu Pacific has chosen to work with world-class British financial and engineering expertise to deliver its expansion program,” he said.

Cebu Pacific, currently operates an Airbus fleet of 42 aircraft comprising 10 A319, 29 A320 and 3 A330. 

Between 2014 and 2021, the airline will take delivery of 13 more Airbus A320, 30 Airbus, A321neo and 3 Airbus A330 aircraft. Airbus is a European aerospace and defence corporation with significant manufacturing operations in countries including the UK, France, Germany and Spain.

Simon Perkins, Standard Chartered managing director and chief commercial officer of aviation finance, said Standard Chartered is a leading international banking group operating for over 150 years in some of the world’s most dynamic markets and earns around 90 percent of its income and profits in Asia, Africa and the Middle East.

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“Cebu Air is an important long-term client of Standard Chartered. This transaction, along with other products and facilities the airline has with us, demonstrates our capabilities and commitment to partnering with core clients in their strategic growth ambitions,” Perkins said.

 

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