Avation PLC has signed 10-year leases with Braathens Regional Airways AB four new ATR 72-600 aircraft.

The aircraft will be delivered new at Toulouse during the fourth quarter of 2019 and the first quarter of 2020.

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

Commenting on the news, Avation's Executive Chairman 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".

At 8:14am: (LON:AVAP) Avation Plc share price was +8.5p at 293.5p