Flight Options Announces Completed Equity Offering With Raytheon Company

CLEVELAND (August 12, 2005) - Flight Options, LLC, a leading provider of fractional shares in business aircraft and an affiliate of Raytheon Company (NYSE: RTN), announced today that Raytheon Travel Air purchased an additional $50 million of common equity of the Company. 

“We [Flight Options, LLC] are well underway on our business plan to replace our older fleets of aircraft where we will focus on those modern fleets with better operating characteristics,” said Mark Brody, chief financial officer, Flight Options, LLC. “This additional funding will help us in meeting our business objectives and achieve future success within the industry.”

Based in Cleveland, Ohio, Flight Options, LLC is the world’s second largest provider of private jet travel solutions by providing a breadth of programs and the depth of one of the largest fleets. The company offers the complete spectrum of programs from fractional ownership to leasing to JetPASS membership and has received the prestigious ARG/US Platinum Safety Rating twice. The Flight Options fleet of more than 200 aircraft includes the world’s largest fleets of Beechjet 400A’s and Legacy Executive aircraft. Flight Options’ fleet consists of the Beechjet 400A/Hawker 400XP, Hawker 800XP, Citation X and Legacy.