Iran Air to Buy Boeing Planes, First Such Deal in 37 Years

EghtesadOnline: Iran’s national carrier reached an agreement with Boeing Co. to buy 80 aircraft worth $16.6 billion, the first deal of its kind since 1979.

News ID: ۷۳۸۵۴۸

11 December 2016

The deal includes 50 737 MAX 8s, 15 777-300ERs and 15 777-9s, and was reached under the conditions of a U.S. government license issued to Boeing in September, the company said in a statement on its website on Sunday. The aircraft will be delivered over 10 years, the state-run Islamic Republic News Agency reported, citing Iran Air Chief Executive Officer Farhad Parvaresh.

The agreement is the first of its kind since the Islamic Revolution, according to Iran’s Ministry for Roads and Urban Development, and comes after most international sanctions on Iran were lifted as part of its nuclear deal with world powers. It is also weeks before the inauguration of U.S. President-elect Donald Trump, who has criticized the nuclear accord with Iran, according to Bloomberg.

The U.S. Congress is considering legislation that could stop Boeing’s sales to Iran by barring the Export-Import Bank from financing planes and preventing the Treasury from authorizing U.S. bank transactions for a sale. The bill was approved in the House last month and is awaiting Senate action. The Obama administration has vowed to veto the measure.

Boeing said in the statement the agreement with Iran Air will support nearly 100,000 U.S. jobs in the U.S. aerospace industry, with the first aircraft scheduled for delivery in 2018.