News ID: 191962
Published: 0617 GMT May 02, 2017

Boeing moves ahead on first jet delivery to Iran next year

Boeing moves ahead on first jet delivery to Iran next year

Boeing Company is making 'steady progress' to complete the terms of an 80-jetliner sale to Iran Air and expects to deliver the initial planes next year — the first US aircraft exports to Iran since the 1979 Islamic Revolution.

"That remains on track," Chief Executive Officer Dennis Muilenburg told reporters following the planemaker's annual general meeting in Chicago, reported Bloomberg.

"It's really important that at every step of the process, we're working on this hand-in-hand with the US government."

Airbus SE, Boeing's European rival, has already delivered the initial planes in a $19-billion sale deal struck last year after a nuclear accord with Iran lifted some international restrictions on trade with the country.

The Iran Air transaction would provide a crucial sales boost for Boeing’s 777 as sales slow for long-range jetliners and customers wait for an upgraded model that is expected to enter the market in 2020.

Boeing has 124 unfilled orders for the current generation 777, the company's largest twin-engine jet.

The 15 aircraft ordered by Iran Air would give assurance that production runs smoothly in 2018 and 2019. "We've gone through the licensing process," Muilenburg said. The company is "working the financing structure".

The company has booked nine orders for the 777 this year and has additional sales campaigns under way, Muilenburg said. "I'm bullish about the prospects for the 777."

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