Airbus and Boeing Get US Go-Ahead for $50bn Aircraft Deal with Iran (excerpt)
(Source: The National (UAE); published September 22, 2016)
Airbus and Boeing have received permission from the US government to sell aircraft to Iran, part of landmark deals potentially worth some US$50 billion in total following last year’s nuclear accord.

The announcements came as Iranian and US leaders are in New York for the United Nations General Assembly and show that the outgoing administration of the US president Barack Obama is honouring the economic terms of the nuclear pact.

The next administration, however, may change that equation for Airbus and Boeing, whose possible deal with Iran would be the biggest for an American company since the 1979 Islamic Revolution and US Embassy takeover.

European airplane manufacturer Airbus announced the licence from the US Treasury’s office of foreign assets control. Boeing followed with its own announcement later.

Although based in France, Airbus needed the approval of the US Treasury for the deal because at least 10 per cent of the manufacturer’s components are of American origin.

Airbus applied for two licences to cover its deal with Iran to ensure the fast delivery of some of the aircraft, said the Airbus spokesman Justin Dubon. The licence announced Wednesday covers the first 17 planes involved in the deal, which will be A320s and A330s, he said.

Dubon said Airbus hoped to receive a second license allowing it to sell the remaining planes to Iran soon. (end of excerpt)


Click here for the full story, on The National website.

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