Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that it has signed 10-year leases with Braathens Regional Airways AB for four new ATR 72-600 aircraft. The four aircraft will be delivered new at Toulouse, France during the period of the fourth quarter of 2019 and the first quarter of 2020.

The aircraft will be operated in the fleet of BRA Braathens Regional Airlines (“BRA”) which currently has a fleet of 23 aircraft and Avation understands is the second largest domestic airline in Sweden carrying approximately 2.2 million passengers annually.

Avation’s Executive Chairman, Jeff Chatfield said: “We are pleased to complete these leases, placing four aircraft from our existing ATR order-book, and we welcome Braathens Regional Airways as a valued business partner. BRA is a well-respected airline in Europe. Avation has granted BRA the option to purchase the aircraft at specified intervals during the lease.”

Geir Stormorken, Chairman of BRA said: “We are excited to be working with Avation PLC to add four new aircraft making our turboprop fleet all ATR 72-600”.