News ID: 117387
Published: 0705 GMT May 05, 2015

Boeing eyeing 'strong demand' in Iran market

Boeing eyeing 'strong demand' in Iran market

Boeing has set its sights on the Iranian aviation market and expects a 'very strong' demand, an official with the multinational aerospace manufacturer said.

"We've done a pretty good assessment on our side and we think the demand, should things open up, would be very strong," said Martin Bentrott, Boeing vice president of sales in Middle East, Russia, and Central Asia on Monday, Press TV reported.

Iran's assessment of its own aviation requirements was accurate, he added.

Head of Iran's Aviation Organization Ali Reza Jahangirian recently said that in order to renovate its aging airliner fleet, Iran needs to buy up to 500 passenger planes in the next 10 years.

"There are still sanctions in place in regards to our ability, the reality is our inability, to market and sell our aircraft to Iran. We are hopeful through the negotiation process that perhaps after the end of June maybe things will change, if there's an agreement," said Bentrott, who manages the sales of all Boeing commercial airplanes and services.

Sanctions have barred Iran from buying Western aircraft since the 1970s.

The US Treasury Department granted Boeing a license to sells spare parts for commercial aircraft to Iran in April 2014, as negotiations between Iran and P5+1 progress. The license has been extended and is currently valid until the end of the month.

However, he noted the Iranian market has so far generated a 'relatively small' amount of revenue. "We have not done a significant amount of spare part business."

In the past decade, Iran has witnessed several major air accidents blamed on its aging aircraft due to the US sanctions that prevent Iran from buying aircraft spare parts.

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