Flight Options Press Release

Flight Options Names New Chief Operating Officer

Former US Airways Executive newly appointed member of fractional provider’s leadership team

CLEVELAND (February 3, 2004) - Flight Options, LLC, a leading provider of fractional shares in business aircraft and an affiliate of Raytheon Company (NYSE: RTN), announced today that the company has named S. Michael Scheeringa as chief operating officer.  Scheeringa will be responsible for the overall operations, maintenance, procurement and customer care for the company.

“Michael brings with him a wealth of experience and knowledge in the realms of customer service, fleet development, strategic planning and operations management,” said John Nahill, chairman and chief executive officer, Flight Options, LLC.  “His background, drive and innovative ideas will compliment our leadership team and allow us to enhance operational efficiency, streamline procurement and increase our focus on customer care.”

“I am delighted to have this opportunity to work with the preeminent team in the fractional aircraft industry,” said Scheeringa.  “I am eager to play an active role in the continued development of the fastest growing fractional jet ownership provider.”

Scheeringa most recently served as US Airways’ vice president Express Division.  At US Airways, he had previously held a series of officer-level positions managing the areas of customer service, operations, corporate planning, in addition to overseeing the MetroJet and the US Airways Shuttle divisions.  He has over 13 years experience in the aviation industry.  Scheeringa holds a bachelor of science in transportation and logistics management from Arizona State University.  He and his family will reside in Cleveland, OH.

Based in Cleveland, Ohio, Flight Options, LLC is the world’s fastest growing fractional provider and employs over 1,400 professionals nationwide.  Flight Options offers fractional shares and leases in its fleet of over 200 aircraft, which includes the world’s largest fleets of King Air’s, Beechjet 400A’s and Hawker 800’s.  The fleet also includes the CitationJet, Hawker 400XP, Citation V, Citation 650, Falcon 50, Citation X, Challenger 601, Gulfstream IV and the Legacy."

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