Ayala : PRESS STATEMENT ON BEHALF OF AC INFRA

PRESS STATEMENT ON BEHALF OF AC INFRA

Aboitiz InfraCapital, Inc., AC Infrastructure Holdings Corporation, Alliance Global Group, Inc., Asia's Emerging Dragon Corporation, Filinvest Development Corporation, JG Summit Holdings, Inc., and Metro Pacific Investments Corporation have all agreed to form a consortium to rehabilitate, operate, and maintain the Ninoy Aquino International Airport (NAIA) through an unsolicited proposal which it plans to submit to the Department of Transportation.

The consortium believes that the NAIA will continue to be a strategic gateway for our country and a key hub of airline operations for many more years. The consortium will work with foreign technical partners with proven world class track records and experiences in airport operations to improve, upgrade, and enhance the operational efficiencies of NAIA covering both landside and airside facilities.

Numerous foreign and local experts have highlighted the advantage of keeping an airport within city limits. Like other major cities in the world, experts recommend an in-city airport and another one outside the metropolis to complement it. Megacities that benefit from a two-airport set-up include Tokyo (Haneda and Narita) and London (Gatwick and Heathrow).

Given proper upgrades and strategic improvements, NAIA can easily accommodate an additional 11 million passengers annually from the current 39.5M passengers, and can increase its hourly aircraft movements (landing and take-off) from 40 movements per hour to 48 movements per hour.

The unsolicited proposal is intended to help accelerate the government's 'Build Build Build' program. Augmenting NAIA's capacity is the quickest way to address airport congestion whileother airports are being developed outside Metro Manila. The consortium believes that this approach promotes greater economic benefit and sustainability for the whole country.

AC Infrastructure Holdings Corp. is the Ayala group's wholly owned subsidiary that selectively pursues projects to support the growing infrastructure needs of the public and private sectors.

For inquiries and additional information, please contact:

JQ Quesada, AC Infra Corp Comm, Sustainability and Risk Manager
[e-mail]
[phone]