News ID: 153520
Published: 0736 GMT June 19, 2016

CAO: Iran, Boeing sign written agreement

CAO: Iran, Boeing sign written agreement

Iran has reached a deal to buy 100 planes from the United States’ Boeing (BA.N), and the two sides are awaiting approval by US Treasury authorities, the head of Iran's Civil Aviation Organization (CAO) said in remarks published by state media on Sunday.

So far, Boeing has only been granted permission to present its products to IranAir and a handful of other airlines as it tries to catch up with Europe's Airbus (AIR.PA), which won a provisional deal earlier this year for 118 jets worth $27 billion.

"Of the 250 (passenger) planes in Iran, 230 have to be replaced," Ali Abedzadeh, the CAO head, told the state-run daily newspaper Iran, adding that a written agreement had been signed with Boeing to buy 100 aircraft.

Abedzadeh said that no precise timeline could be given for the implementation of the deal before an authorization is issued by the US Treasury Department.

He said Boeing had submitted an official request to the US Treasury for a final permit for the plane sales and "the final contract is to be signed between the two sides after the license has been obtained".

In January, IranAir agreed in to buy 118 jets worth $27 billion at list prices from Airbus. The deal was conditional on US export licenses because of the quantity of US-built parts.

In comments about the Airbus purchases, Abedzadeh told the Iran newspaper, "The final obstacle in this area is only the permit from the US Treasury Department."


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