Avation PLC (LON:AVAP) has secured a twelve-year operating lease to supply one ATR 72-600 aircraft to Far Eastern Air Transport Corp of Taiwan.
The commercial aircraft leasing group said it had entered into a conditional letter of intent with Far Eastern Air and would begin configuration of the aircraft to customer specifications for an expected delivery in September 2018.
READ: Avation extends long-term lease on Airbus A320 aircraft by a further seven years
The company added that it had now placed one out of the three remaining 2018 ATR 72 deliveries in its aircraft order book.
Jeff Chatfield, executive chairman of Avation, said: "Avation's strategy is to continue to diversify its lessee operator base and we welcome Far Eastern Air Transport Corp. of Taiwan as a customer. The ATR 72 is still the most popular and, on a per-seat-basis, the most fuel efficient commercial turboprop aircraft globally."
In May, the company said it had extended the lease for an Airbus A320 aircraft by a further seven years.
The company said the lease for the aircraft was due to expire on 18 May 2018 but has now been extended to 18 May 2025 with the existing operator.
In late morning trading, Avation shares were up 0.23% at 218p.