LONDON (ShareCast) - (Sharecast News) - Commercial passenger aircraft leasing company Avation has signed 10-year leases with Braathens Regional Airways for four new ATR 72-600 aircraft, it announced on Wednesday.

The London-listed firm said the four regional turboprop aircraft would be delivered new at Toulouse, France during the fourth quarter of 2019 and the first quarter of 2020.

"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," said Avation executive chairman Jeff Chatfield.

"BRA is a well-respected airline in Europe."

Chatfield said Avation had granted BRA the option to purchase the aircraft at specified intervals during the lease.

The aircraft would be operated in the fleet of BRA Braathens Regional Airlines (BRA), which currently has a fleet of 23 aircraft.

Avation said it was the second largest domestic airline in Sweden, carrying about 2.2 million passengers annually.

"We are excited to be working with Avation to add four new aircraft making our turboprop fleet all ATR 72-600," said Geir Stormorken, chairman of BRA Braathens Regional Airlines.

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