Avation completes second Flybe delivery

Commercial passenger aircraft leasing company Avation has completed the delivery of its second aircraft to low-cost airline Flybe.

The London-listed company said the delivery is the second of a series of five new ATR 72-600 aircraft which will be progressively delivered to Flybe during the remainder of 2015 and the first months of next year.

The aircraft will be operated by Flybe on behalf of Scandinavian Airlines under an operational contract arrangement called the "white label" project. The airliner has signed a six-year lease, with the option to extend the agreement, Avation added.

“We believe the ATR 72-600 to be an ideal aircraft type for the shorter regional routes of Europe, due to the fact that it has the lowest fuel burn and overall operating cost economics in its class," said group chairman Jeff Chatfield.

Avation shares were up 0.80% to 145.65p at 0850 BST on Monday.