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16th June 2009

Flybe tie-up with Olympic Air on regional flights

Europe’s largest regional airline to provide up to 4 aircraft with co-operation in multiple fields providing further boost for Flybe brand awareness

Flybe, Europe’s largest and most successful regional airline, is delighted and proud to announce its support for the summer start-up of Greek airline, Olympic Air.

By providing Olympic Air with four Bombardier Q400 aircraft, with pilots, cabin crew and engineering support, the deal is yet more evidence of Flybe’s growing reputation as a quality provider of professional ‘turn-key’ solutions in the global aviation market.

The ‘wet lease’ arrangement is from August 2009 until September 2010, at which point, the aircraft will return to Flybe. Based in Athens, the aircraft will become part of the New Olympic business and, operating under the Flybe Airline Operating Certificate (AOC), will be fully crewed by Flybe pilots and cabin crew and maintained by Flybe engineers.

The deal, which was officially announced at the prestigious Paris Air Show is the latest in a line of innovations which have highlighted Flybe’s ability to not only ride out the recession but place it in a position where it will emerge stronger and more competitive when the upturn arrives.

In what is a major extension of the Flybe brand, Chairman and Chief Executive Officer, Jim French says: “The partnership with Olympic Air is an exciting development for Flybe. Following on from our Air Transport World Regional Airline of the Year award, this is a major extension of the Flybe brand and is a very important milestone in Flybe’s development.”

He adds: “The Flybe business model has been a great success over the last eight years and as a result I am proud that we will be one of the very few airlines likely to announce a profit for the 2008-09 financial year.

“Over the past 18 months or so, Flybe has been offered literally dozens of opportunities to start up or support start-ups globally all of which, until this one, we have declined. Flybe’s senior management team is 100% convinced that this partnership with Olympic Air is a tremendous opportunity and dovetails perfectly with our brand. We look forward to it being a great success.”