Regional airline Flybe has announced an order reported to be worth £850 million for 35 new planes in a view to expand its sphere.

Besides, the airline giant is revealed to have an option to acquire 105 more Embraer 175 jets, which could take the whole deal to a worth £3.3billion.

The airline is basically seeking to mark a huge expansion into Europe that is cited to drive the job sector, as it will introduce nearly 1,400 new jobs.

It is reported that the first 88-seater Embraer 175 aircraft is slated to mark its launch by September 2011, with the remaining reported to be concluded by March 2017.

However, the present period is tagged as 'Good time to buy', in the midst of numerous airline majors' orders being launched this week at Farnborough, the world's biggest air show.

Currently, Exeter-based Flybe, possess 73 planes, with all of them in operation.

"We are securing an aircraft that fits with our stated aim of furthering our position as the leading regional airline in Europe", quoted, Flybe's Chief Executive, Jim French. "This is a good time to buy aircraft and fits Flybe's long tradition of ground-breaking deals which power the long-term growth of the company".