Boeing Signs Deal to Sell Jetliner WIth Iran

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Iran is looking to replace its aging fleet of jetliners for its main airline Iran Air.  Boeing has signed a deal to sell reportedly $25 billion worth of aircraft to the airline. This comes after sanctions between Iran and Western nations were lifted, following last year’s landmark nuclear deal.

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Here’s more information from ABC News:

“However, the long-standing enmity between the U.S. and Iran, as well as other sanctions, still could complicate any agreement — even after last year’s nuclear deal.

Boeing issued a statement to The Associated Press saying that it signed the Iran Air agreement “under authorizations from the U.S. government following a determination that Iran had met its obligations under the nuclear accord reached last summer.”

“Boeing will continue to follow the lead of the U.S. government with regards to working with Iran’s airlines, and any and all contracts with Iran’s airlines will be contingent upon U.S. government approval,” it said.

Boeing’s statement offered no further details. Fakher Daghestani, a Dubai-based spokesman for the manufacturer, declined to elaborate.

Iran Air, the country’s national carrier, said Monday it wanted to buy new Boeing 737s and 777s.

Earlier Tuesday, Iran’s Transportation Minister Abbas Akhoundi said possible deals between the Islamic Republic and Boeing could be worth as much as $25 billion, on par with the country’s earlier agreement with its European rival, Airbus. Iran also has ordered 20 airplanes from French-Italian aircraft manufacturer ATR.”

Bottom Line:

Boeing has been having trouble competing with Airbus given the strengthening dollar, which makes U.S. goods less attractive for overseas buyers.

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  1. So what is a country like Iran going to do with all those Airbus and Boeing planes? Does the government believe it can compete with the likes of EY/EK/QR/TK and create a transit hub on the other side of the Gulf? Hard to see how this will play out other than comfort the western powers that the newly released billions of $s held ransom in the west will be spent in the west rather than revert to domestic Iranian purposes. It would seem Iran requires a modern fleet of Q400s and the like to service its own cities and villages, and not wide bodies and even large narrow bodies to cross continents and oceans.

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