Aircraft leasing group Avation PLC (LON:AVAP) has bought and delivered a fifth new ATR 72-600 passenger plane to regional airline Flybe Group PLC.
The plane will be operated by Flybe in Scandinavia on behalf of Scandinavian Airlines (SAS) under a contract arrangement termed the "White Label" project.
The duration of the lease is six years with an option to extend. The purchase of the aircraft was supported by an existing banker to the company.
Executive chairman of Avation Jeff Chatfield told investors: "As at the date of delivery of this brand new ATR 72 aircraft to Flybe, Avation now owns 38 commercial aircraft."
Shares flew 0.35% lower at 143.5p.