OFAC issues license to Boeing for delivery of planes to Iran

EghtesadOnline: US Treasury Office of Foreign Assets Control (OFAC) issued license to Boeing for delivery of 15 passenger planes to Iran.

News ID: ۷۷۲۴۱۵

18 December 2016

Deputy Minister of Roads and Urban Development Asghar Fakhrieh Kashan said on Sunday that the US Department of Treasury authorized Boeing to sell 80 passenger planes to Iran and that after delivery of 15 planes, it will extend license to Boeing for delivery of 65 planes to Iran.

Talking to reporters, Kashan said Iran Air had provided Boeing with advance payment for purchase of 15 planes, IRNA reported.

'Boeing itself will finance six of the planes and the rest will be paid on lease-to-ownership scheme,' he added.

He said that Iran Air has one billion dollars in its disposal for advance payment for purchase of planes which will be paid to the plane manufacturing companies in four chunks.

'Earlier, 330 million dollars was to be withdrawn from the National Development Fund for Iran Air to purchase six planes and Iran Air can issue 120 million dollars in Sokuk to finance equipping its fleet.'

Furthermore, Iran Air has been successful to incur 500 million dollars out of foreign financial resources without relying on state guarantee bonds and this can serve as cash advance payment to plane manufacturing companies on Iran Air part, according to Kashan.