The U.S. government began granting licenses to aircraft manufacturers Wednesday morning allowing the sale of passenger jets to Iran as part of last summer’s landmark nuclear deal, according to aviation sources.
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Earlier this year, Airbus and its US rival Boeing each signed deals to supply over 100 jets to flag carrier IranAir to modernize and expand the country’s elderly fleet, held together by smuggled or improvised parts after years of sanctions. The sales follow a landmark agreement on Iran’s nuclear program a year ago.
Both Airbus and Boeing have agreed to sell or lease more than 100 aircraft each to Iran Air as Tehran rebuilds its aviation sector following years of worldwide sanctions because of its controversial nuclear program.
The change appears to have been adopted to expedite the process for the company to receive export approvals from the US Treasury Department – what has been so far plaguing the process for Iran and Airbus to complete the deal.
The current commercial aviation fleet in Iran, which has a poor air safety record, numbers around 140 planes with an average age of around 20 years, with many in desperate need of replacement.
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On Sunday, he told the CAPA Iran Aviation Finance Summit that Iran has been told that the US Treasury will issue the required approvals for plane sales to Iran by the end of September.
