Binter Canarias, which operates regional services between Spain’s Canary Islands, has placed an order for six 72-seat ATR 72-600s valued at $160 million at list prices.

The deal is a new, firm order, which Binter will use for fleet renewal. Deliveries will begin in 2019 and will run until 2021.

“It is clearly the best aircraft to continue modernizing our fleet, optimizing our network, and ensuring future growth opportunities,” Binter president Pedro Augustin de Castillo said.

This the third batch of six ATR 72-600s that Binter has ordered, taking the airline to a total commitment for 18 aircraft, of which four have already been delivered. Binter also operates 14 ATR 72-500s, which are being progressively replaced by the newer -600s, as well as a pair of Bombardier CRJ900s.

“By the end of 2021, Binter will have an all-600 fleet,” ATR CEO Patrick de Castelbajac said, announcing the agreement at the European Regions Airline Association General Assembly in Madrid.

The deal was done in euros rather than dollars, marking the first ATR transaction done this way since Air Dolomiti in 1999.

This is highly unusual,” de Castelbajac said. “It was not a simple thing to do. It can’t be done with everyone and I think it would be very hard to achieve with a new customer. You need to know one another very well and find a safe mechanism. We are taking some risk here, but we believe it is good and something we want to do more of.”

He added that transactions are normally done in dollars because of the international nature of competitive tenders and financiers are well-established in trading aircraft in dollars.

“I don’t think other manufacturers want to bid in euros; they are not keen to do this,” he said. “We worked within the normal banking system, but real work is just starting.”