On Tuesday, Boeing announced it has reached an agreement with Iran Air for the purchase of aircraft from the manufacturer, marking the biggest business deal between Iran and the United States since 1979.
Advertisement
Saying that it had signed an order with Iran Air “under authorizations from the US government”, Boeing Co.
Chicago-based aircraft manufacturer Boeing would not divulge details about its deal with Iran Air – not the number of aircraft involved, the specific models or the price tag.
On Tuesday, Boeing Co (NYSE:BA) said that it agreed to sell 100 jetliners to Iran Air, after confirmation of an agreement with Iran Air about this historic deal. “If Boeing were to be denied, Iran would simply buy more planes from Airbus”.
The aerospace manufacturer’s business agreement is the largest between the US and Iran since 1979.
Although most global sanctions were lifted when the nuclear agreement took effect in January, Washington still maintains some sanctions against Tehran over its ballistic missile program and its alleged sponsorship of blacklisted terrorist groups. The largest non-Iranian airline to serve the country was Turkish Airlines with 1.3 million seats, followed by Emirates Airline with 1.1 million seats.
But it offers a potential groundbreaking test for other US companies seeking to enter the large Iranian consumer market. U.S. State Department spokesman John Kirby told reporters the agency welcomed Boeing’s announcement and was in close communication with Boeing.
It’s unclear what changed in the last few days. It also signals an apparent win for moderate forces in Iran led by President Hassan Rouhani, who strongly backed the nuclear deal as a way to revitalize the country’s sanctions-choked economy. The Iranian flag carrier, Iran Air, agreed to buy 118 jets worth $27 billion from Airbus. “It is not specific to our Iran sanctions program”.
Advertisement
Boeing, in turn, needs clearance from US trade authorities before finalizing the sale.
