CLEVELAND (September 5, 2006) – Flight Options,  LLC, a leading provider of fractional shares in business aircraft and a Raytheon Company (NYSE: RTN), today took its tradition of launching innovative purchase and use programs to a higher plane with the announcement of Fractional First™.

“Fractional First™ brings to market what private jet users having been asking for from fractional jet providers; increased transparency, more flexibility and simplified terms,” said S. Michael Scheeringa, chief executive officer, Flight Options, LLC.  “With an industry leading safety record, ease of one stop coordination, renowned personalized service and now the increased value associated with Fractional First™,  private jet customers have every reason to chose Flight Options.”

Fractional First™ simplifies the confusing and restrictive calculations that had become standard in the fractional industry.  Highlights include:

• No Taxi-Time Deduction – Taxi time will be paid, but time will not be deducted from share hours purchased; customers get more air-time.
• Distance-Based Pricing – Hourly rates are based on distance flown; customers benefit from more air-time. 
• Transparent Fuel Cost – Simple, with no more base price plus a surcharge at a
five-year fixed-usage rate; customers pay what Flight Options pays and uses.
• Flexible-Use Option – Customers can use 80% to 120% of the share hours purchased each year and pay management fees only on the hours used.
• Extended Service Area – When customers fly outside of the Primary Service Area, all they pay for the repositioning leg is the fuel cost.
 
“The net result of the Fractional First™ introduction is up to a 15% increase in value through access to more hours or savings on long haul trips,” said Scheeringa. 

Flight Options, LLC offers the complete spectrum of programs from fractional ownership to leasing to JetPASS Ultimate Travel membership and has received the prestigious ARG/US Platinum Safety Rating three times. The Flight Options fleet of over 150 aircraft includes the world’s largest fleets of Beechjet 400As and Legacy Executive aircraft. Flight Options’ fleet consists of the Beechjet 400A, Hawker 400XP, Hawker 800XP, Citation X and Legacy. More information is available at www.flightoptions.com or by calling 877.703.2348.