PARIS | Airbus and Iran Air have finalized a deal for 100 planes worth more than $18 billion at list prices - a contract that's potentially a big boost for Iran's post-sanctions economy. Deliveries will begin in early 2017.
Airlines in Iran have been operating for decades on ageing fleets of Boeing and Airbus airliners, plus some Russian planes bought or leased since the revolution. "So this agreement is also a significant first step in the overall modernization of Iran's commercial aviation sector".
Under the agreement, Airbus would deliver 46 single aisle A320 series commercial jets, 38 wide body A330 along with 16 more A350 long range wide body aircraft for worldwide flight operations.
Iran's national carrier Iran Air has completed an order for 100 Airbus planes with a list price of around 20 billion United States dollar as the Islamic Republic opens up to the West. "We hope this success signals to the world that the commercial goals of Iran and its counterparts are better achieved with worldwide cooperation and collaboration". "We trust this achievement signs to the world that the business objectives of Iran and its partners are better accomplished with worldwide participation and coordinated effort", Fabrice Brégier, Airbus' leader and CEO, said in a declaration.
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Sanctions on Iran was lifted after the nuclear pact that was signed between Iran, US and other world powers earlier this year in exchange of which Iran was to cease its nuclear program.
Most of Iran Air's planes were purchased before 1979 and only 162 of its 250 commercial aircraft were operational as of June.
Airbus said that the deal is subject to USA government Office of Foreign Assets Control (OFAC) export licences which were granted in September and November 2016.