Flight Options Press Release

Flight Options Orders 25 Fairchild Aerospace Envoy 7 Business Jets

Paris, June 14, 1999 – Flight Options Inc., the fastest growing national fractional jet ownership company, announced today at the Paris Air Show it will buy 25 Fairchild Aerospace Envoy 7 business jets in a deal valued at more than $760 million.  The Envoy 7 will be the largest aircraft in Flight Options’ fleet of more than 50 aircraft. 

“The Envoy 7 is a perfect addition to our fleet of corporate aircraft,” stated Kenn Ricci, Chairman and CEO of Flight Options. “Our fractional ownership program is geared toward adding value within a category and the Envoy 7 will provide a 35% savings over competitive products. We are confident the performance, reliability and spacious interior will please our corporate owners – and their accountants.”
“As part of our fleet, the Envoy 7 will not only give our customers the widest range of aircraft options, it will put them into a new level of range, comfort and travel flexibility while maintaining fiscal responsibility,” Ricci continued.

Accompanying Kenn Ricci at the Paris Air Show press conference was Flight Options’ President, Darnell Martens and Fairchild Aerospace’s Chairman Carl Albert and Vice President - Corporate Sales Craig Fahning.
The Envoy 7 was introduced in October 1998 and deliveries to Flight Options, Inc. are set to begin in 2002. The Envoy 7 features a cabin 128 inches across and almost 7-feet high.  This gives it nearly twice the cabin volume of its competitors, yet is competitively priced at $30.5 million. The Envoy 7 will comfortably accommodate 12 people on intercontinental flights equipped with comfortable seating, large conference facilities – even a stateroom equipped with a shower.

“The revolution that is the Envoy 7 is centered around its spacious cabin that soon will be the standard by which business jets are measured,” said Fairchild Aerospace Chairman Carl Albert. “Flight Options offers enhanced value to the fractional ownership market, so the Envoy 7 fits well into their fleet, offering more value than any similarly priced jet.”

Specific attention to operational features also was made in designing the Envoy 7, making it one of the most economical business jets, both in acquisition and operation costs. The digitally controlled, twin General Electric CF34-8D3 engines are advanced versions of one of the leading power-plants in service today – each generating some 13,000 pounds of thrust. The propulsion system provides a range of more than 4,000 nautical miles at 41,000 feet with a cruise speed of .80 Mach.

Pilots have the advantage of the Honeywell Primus EPIC avionics system, the first all-new integrated avionics system for business jets. The Primus EPIC system features five 8x10-inch multifunction flat panel displays, dual computer interface units and a centralized maintenance system. The system supports a variety of current and future navigation/communications systems including CAT II, with an optional CAT IIIa/b capability available.

Flight Options Inc., a division of Corporate Wings Inc., is a leading corporate jet transportation company featuring fractional ownership programs for new and previously owned business jets.  Based in Cleveland, Ohio, Flight Options was formed last year with an emphasis on bringing value-added jets to the fractional ownership market."

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