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Embraer Announces Flybe Order

Flybe, one
of Europe’s leading low-cost airlines, today announced an agreement with
Embraer for the purchase of 14 EMBRAER 195 aircraft and has taken options
on an additional 12. Deliveries are set to begin in August 2006 and continue through to
November 2007. The total value of the firm contract at list price is US$
470 million, with a potential of reaching US$ 870 million if all options
are converted.

“The EMBRAER 195 is ideally suited to meet the needs of our domestic and
regionally focused business model. The airplane has seat costs on the
sector lengths we fly which are comparable with larger jets, while with
118 seats has a capacity level which suits the thinner UK regional markets
we serve. In short, the EMBRAER 195 allows us to deliver our famous low
fares to all the regions we serve, and allows us to do it profitably,
while at the same time increasing the number of regions we can serve with
direct European services,” commented Jim French, Chairman and Managing
Director of Flybe.

“The EMBRAER 195 will replace our BAe 146 fleet, and bring cost and
service efficiencies. It completes our fleet rationalization strategy
commenced in 2003 and will give us the youngest fleet in the airline
sector. It also means that the business has addressed the strategic
question of how to replace the 146 and provide a ten-year platform for
profitable growth,” French continued. “We chose the EMBRAER 195 not only
for its operational and cost advantage but also for its outstanding
environmental performance. Flybe has become a successful major player in
European aviation and this deal will pave the way for the company’s
continued growth and financial success,” he concluded.

Fitted with single Head-up Guidance System (HGS) and configured to seat
118 passengers, the aircraft is intended be used extensively within
Flybe’s existing and expanding network, replacing the airline’s BAe 146s.
With numerous bases across Britain, Flybe flies to destinations spread
throughout Europe.

“As one of Europe’s leading low-cost airlines, Flybe honors us with its
selection of the EMBRAER 195, the largest member of the new family of
Embraer airliners,” said Mauricio Botelho, Embraer President and CEO.
“Flybe’s choice is yet another testament to the capabilities for airlines
to right size their fleets with our family of aircraft. The EMBRAER 195
will combine unparalleled performance and comfort with low seat-kilometer
cost. We are proud to be part of the carrier’s continued expansion within
the low-cost market.” Embraer is the world’s leading manufacturer of jet
aircraft solutions up to 110 seats.