Iran to finalize Airbus deal

Iran will finalize a contract with French aircraft manufacturer Airbus on the purchase of jetliners next week, said Minister of Roads and Urban Development Abbas Akhoundi.

He added that the details of the contract with Airbus to purchase brand new aircraft will be made public afterwards, Tasnim News Agency reported.

During Iranian President Hassan Rouhani‘s visit to Paris in January, Tehran signed the major contract with Airbus worth about $27 billion to buy 118 planes.

Airbus

Iran and Airbus intensified business negotiations in October following the US decision to remove a final hurdle for Western aircraft manufacturers to sell planes to Iran under contracts signed after the Joint Comprehensive Plan of Action (JCPOA), a nuclear agreement between Tehran and the P5+1 (Russia, China, the US, Britain, France and Germany) was implemented in January.

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

Iran sealed another deal in June worth around $25 billion with the US aerospace heavyweight, Boeing, to purchase 100 passenger planes.

The deal with Boeing was finalized earlier this month allowing Iran to buy 80 planes within 10 years. The first deliveries are expected in 2018.

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