Flybe Group Regulatory News (FLYB)

Flybe Group plc

("Flybe" or "the Group")

Notification of transactions by Directors/PDMRs

In accordance with Disclosure and Transparency Rule 3.1.4R(1), Flybe Group plc ("Company") announces that it was advised on 5 August 2011 by Kleinwort Benson (Guernsey) Trustees Limited that, on 5 August 2011, conditional awards of ordinary shares of 1p each in the capital of the Company were made under the terms of the Flybe Performance Share Plan ("PSP"), such date being within the normal 42 day grant period following the announcement of the annual results on 30 June 2011, to directors and other persons discharging managerial responsibility as follows:

To the extent that the conditional awards vest, the shares will be transferred to the individuals for nil consideration.

In normal circumstances, the awards will not vest (and the shares will not be transferred to the individuals) before 5 August 2014. The percentage of the shares that ultimately do vest (and are transferred to the individuals) is dependent on the satisfaction of performance criteria measured over a three-year performance period ending on 31 March 2014:

(a) 70% of the shares under each award will vest subject to the satisfaction of a performance condition based on the Company's underlying earnings per share at the end of the performance period; and

(b) 30% of the shares under each award will vest subject to the satisfaction of a performance condition based on the Company's total shareholder return from the award date until the end of the performance period (as compared to a specified comparator group).

5 August 2011

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