Airbus and Boeing announced Wednesday that they received U.S. licenses to sell planes to Iran Air, clearing the way for the first western aircraft sales to the country in decades. The Islamic Republic’s flag carrier would add more of the iconic, hump-backed 747s, as well as the 777 and upgraded 777X wide-body jets under a US$17.6-billion order for 80 Boeing aircraft.
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Airbus on Wednesday said some of those deliveries may occur as early as this year, a spokesman said.
It’s reported Airbus officials voiced concerns over the amount of time it’s taking to receive USA export licenses, these are required to complete any deal due to the large number of U.S. parts in the Airbus jets. Boeing has also agreed to help arrange the lease of another 29 of its jets to Iran Air. Boeing followed with its own announcement later.
Most Iranian planes were purchased before the 1979 Islamic Revolution that ousted Shah Mohammad Reza Pahlavi and brought Islamists to power. Even so, a deal has to be done without using American dollars or the USA financial system.
What would any airline want with more than 200 new planes?
The June memorandum of understanding covered the sale of 80 planes to Iran Air.
Other obstacles remain, including plane financing.
Boeing has yet to receive US government approval, but told CNNMoney it expected it soon.
Although Airbus is a French company, it needed the U.S. Treasury Department to sign off before the deal for 118 planes could go through because they contain American parts.
Boeing and Airbus have agreed to sell or lease more than 100 aircraft each to Iran’s national airline, IranAir, following last year’s nuclear agreement between Iran, the USA, and five other world powers. The U.S. government’s Export-Import bank, which can back plane deals, is restricted from supporting Iran-related transactions. Airbus sought the approvals to expedite the process.
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Airbus received the license from the U.S. Treasury’s Office of Foreign Assets Control, Airbus spokesman Justin Dubon told The Associated Press.
