The not-quite-comprehensive ending of sanctions against Iran has also ended the Airbus A380 sales drought, with Iran Air signing for 12 of the biggest passenger jet flying.
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Iran’s president, Hassan Rouhani, agreed the purchase, thought to be worth £17.4billion, alongside a host of other deals.
The order for 73 wide-body and 45 narrow-body jets allows Airbus to steal a march on USA rival Boeing (BA.N) as Iran seeks to renovate and expand its worn-out fleet of 225 planes.
The Airbus deal depends on unraveling a knot of financial issues including whether and how Iran can avoid using the US financial system for the jets, usually priced in dollars.
The jets signed for are 21 current A320 CEOs, 24 new engine tech A320 NEOs, 27 current model A330s, 18 A330-900 NEOs, 16 A350-1000s and 12 A380s.
The cooperation agreement provides for Airbus to support the development of air navigation services (including air traffic management services), airport and aircraft operations, regulatory harmonization, technical and academic training, maintenance, fix and industrial cooperation. Airbus has design and manufacturing facilities in France, Germany, the United Kingdom, and Spain, and subsidiaries in the US, China, India, Japan and in the Middle East. In addition, it provides the highest standard of customer support and training through an expanding worldwide network.
These two agreements took place as part of the implementation of the JCPOA (Joint Comprehensive Plan Of Action) on January 16th 2016, and its associated rules and guidance.
Many European companies are lining up to strike deals with Iran following the lifting of sanctions.
“The sky has brightened for Iranian passengers, and Airbus is pleased to welcome the return of Iran to the worldwide civil aviation community”, said the boss of the European aircraft maker, Fabrice Bregier.
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“Today is a significant step in the overhaul and modernization of Iran’s commercial aviation sector and Airbus stands ready to play its role in supporting it”.
