20.4 C
Monday, May 29, 2023

Read Online

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.

Business Journal
We deliver business news that are professionally crafted and tailored to give you business freedom and expression that is aimed at increasing your spirit of enterprise.

Related Articles

- Advertisement -

Stay Connected

- Proud Member -spot_img
- Advertisement -

Latest Articles