The Boeing agreement was the biggest Iran has struck with an American company since the 1979 revolution and U.S. Embassy takeover. Iran Air chief has said earlier that the value of the contract would not exceed $10bn. Both deals were conceivable as a result of arrangements in the atomic assertion amongst Iran and six world powers that produced results about a year back, which lifted many endorses on Iran in return for its irrefutable vows of serene atomic work.
The deal to buy 80 new aircraft was made possible by the Iran nuclear deal, which decreased sanctions on the Islamic Republic in exchange for a downgrade to its nuclear programs.
Iran's national carrier Iran Air has completed an order for 100 Airbus planes with a list price of around 20 billion United States dollar as the Islamic Republic opens up to the West.
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"Everyone has an interest in moving quickly". Iran holds its next presidential election in May 2017.
The agreement is subject to U.S. government Office of Foreign Assets Control (OFAC) export licences which were granted in September and November 2016.
Fabrice Bregier, president and CEO of Airbus, who signed the deal with Farhad Parvaresh, chairman and CEO of Iran Air, termed it as a landmark deal that will allow Iran to renew its aircraft fleet, in addition to getting assistance in pilot training, airport operations and air traffic management.
The first Airbus aircraft could arrive before President-elect Donald Trump is inaugurated on January 20. (NYSE:BA) finalized similar deal with the airline, earlier this month.