Latvian carrier Air Baltic is preparing to take the remaining five of eight Bombardier Q400s after arranging a sale and leaseback for the type.
All eight of the twin-turboprops - including three previously owned by Air Baltic - have been purchased by Nordic Aviation Capital.
The company will lease the aircraft back to the Riga-based airline.
Air Baltic chief Bertolt Flick says the financing amounted to a "large transaction" for the airline. The total list value of the aircraft is $212 million.
He says that the Q400s, originally part of a fleet-renewal plan by former shareholder SAS Group, will "allow Air Baltic to maintain low unit costs".