Monday, July 14, 2025
23.2 C
Lagos

US Approves Airbus, Boeing Aircraft Export to Iran

The US Treasury Department’s Office of Foreign Asset Control (OFAC) has issued licenses to Airbus and Boeing for export of their aircraft to Iran. Both aircraft manufacturers confirmed the decision on September 21, 2016.

Tehran, Airbus and Boeing were awaiting the US decision on the export license for the aircraft. The latest news said that the US allowed Airbus to start exporting aircraft to Iran, and a license to Boeing will be granted in the following days.

Airbus was granted the license for early deliveries of 17 A320s and A330s to Iran Air. At the same time, Boeing will be allowed to complete negotiations under a Memorandum of Agreement (MoA) with Iran Air for 80 aircraft of various models: 737, 777 and 787.

The US-based company will also arrange the lease of 29 additional airplanes to Iran Air. Airbus‘ transaction also required the US Treasury’s export license due to Airbus jets having 10% US content.

Tehran and Boeing previously agreed on the purchase of 80 aircraft and on the lease of additional 29, but later Iran trimmed the order to 108 aircraft.

Airbus was the first company which signed an agreement with Iran Air under the Joint Comprehensive Plan of Action (JCPOA), in January 2016. The agreement featured an order covering 118 aircraft of various models, valued $27 billion: A320 family, A320neo-family, A330 family, A330-900s, A350-1000s and A380s. Iran still has not decided on the A380 aircraft, and recently Iran trimmed the order to 112.

Iran’s government is reported to have also ordered up to 40 ATR turboprop planes, which also need export approval from the US.

spot_img
spot_img
spot_img

Hot this week

NAICOM, Insurance Industry Mourn Buhari

It is with profound sadness that we received the...

Polaris Bank Partners Woodhall Capital, UK, Lagos State in ₦1.5bn Creative Economy Fund

L-R- Abimbola Ozomah, Executive Director, Polaris Bank; Mojisola Hunponu-Wusu,...

Heirs Insurance Group Reports N61bn GWP in 2024, an Increase of 70%

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Stanbic IBTC Holdings Meets CBN’s N200bn Recapitalisation Policy

In a landmark achievement that highlights the steadfast confidence...

SanlamAllianz Partners NCRIB on 2025 Empowerment Series

Dr. Abosede Adegbite, Consultant, Family Physician; Tope Adaramola, Executive...

Topics

UBA Reaps $150m Line of Credit from ADB

The Board of Directors of the African Development Bank...

NCC Tasks Telcos on Network Security, Consumer Safety

The Nigerian Communications Commission (NCC) has directed Mobile Network...

MTN Nigeria, Gemalto Partner on Commercial GSMA Mobile Connect Service

Gemalto, the world leader in digital security, has been...

The Nation Newspaper’s Insurance, Pension Editor, Omobola Tolu_kusimo, Loses Father

The father of The Nation Newspaper’s Insurance and Pension...

AviaDev Africa: Platform for Airlines, Hotel Convergence

AviaDev Africa, a unique platform bringing together airlines, airports,...

Africa, ME Personal Computing Market Reports 12% Growth in 4thQtr 2021

    The Middle East and Africa (MEA) personal computing devices...

NCC Opens Public Enquiry on 3 Regulatory Instruments

By Aminu Maida EVC/CEO of NCC I welcome you all to...

14-Year-Old Prodigy, Kentimfon Ndanyongmong, Wins 2023 Heirs Life Essay Championship

Kentimfon Ndanyongmong, a JSS 3 student from Beulah International...
spot_img

Related Articles

Popular Categories

spot_imgspot_img