Iran Air and Airbus have signed a firm contract for 100 aircraft, building on an initial commitment signed in January 2016 in Paris.
Iran Air and Airbus have signed a firm contract for 100 aircraft, building on an initial commitment signed in January 2016 in Paris.
The agreement signed by Farhad Parvaresh, Iran Air Chairman and CEO and Fabrice Bregier, Airbus President and CEO, covers 46 A320 Family, 38 A330 Family and 16 A350 XWB aircraft.
Deliveries under the deal estimated at $ 18 billion will begin in early 2017.
The agreement is subject to US government Office of Foreign Assets Control (OFAC) export licences which were granted in September and November 2016.
These licenses are required for products containing 10 per cent or more US technology content.
Airbus coordinated closely with regulators in the EU, US and elsewhere to ensure understanding and full compliance with the JCPOA. Airbus will continue to act in full compliance with the conditions of the OFAC licences.
Along with the order for 80 Boeing jets placed on December 11, these acquisitions will help Iran Air to replace its ageing fleet of airliners, who was unable to do so, following economic sanctions on the country.
