Iran Finalizes Airbus Deal Very Soon

Iran Finalizes Airbus Deal, Airbus A321neo

Iran Finalizes Airbus Deal. Minister Road and Urban Development of Iran, Abbas Akhoundi said the country will finalize a contract with Airbus for the purchase of aircraft next week.

Speaking at an exhibition on Sunday, Akhoundi said the final contract with Airbus to buy new aircraft will be signed in the next few days. He said the details of the contract will be made public later.

During a visit to Paris in January 2016 by Iranian President Hassan Rouhani, Tehran signed a major contract with Airbus worth about USD 27 billion to buy 118 aircraft.

Iran and Airbus stepped up trade talks in October after the US decision to remove the last hurdle for Western aircraft manufacturers to sell aircraft to Iran under contracts signed after the Joint Action Plan (JCPOA) came into force.

While Western flat makers are eager to start trade with Iran, Washington still requires even non-US manufacturers wishing to sell Iran to obtain an export license if their products include materials made in the United States. Airbus, even its based buys more than 40 percent of all its aircraft parts from US.

Iran sealed another deal in June worth about USD 25 billion with US heavyweight aerospace firm Boeing for the purchase of 100 passenger aircraft. In December 2016, the agreement with Boing was finalized, allowing Iran to buy 80 aircraft in 10 years. The first deliveries are planned for 2018.