65275
For Boeing, losing the Iran Air deal could affect 777 production, since 15 of the wide-body jetliners are included in the first approved batch of Boeing aircraft due for delivery to Iran Air by 2020.
For Boeing, losing the Iran Air deal could affect 777 production, since 15 of the wide-body jetliners are included in the first approved batch of Boeing aircraft due for delivery to Iran Air by 2020.

US Treasury Reviewing Iran’s Aircraft Licenses

US Treasury Reviewing Iran’s Aircraft Licenses

The US Treasury is reviewing licenses for Boeing and Airbus to sell aircraft to Iran, department head, Steven Mnuchin, said on Wednesday, telling lawmakers he would increase sanctions pressure on Iran.
Mnuchin did not elaborate on the review of the licenses, which were issued under a 2015 agreement between Tehran and world powers to lift sanctions in return for curbs on Iran’s nuclear activities.
The review suggests that Trump’s support for Boeing’s defense and jetliner businesses could have political limits, Reuters reported.
Iran has accused Washington of supporting terrorism by backing rebels in Syria and says halting the airplane deals would breach the 2015 nuclear agreement.
For Boeing, losing the Iran Air deal could affect 777 production, since 15 of the wide-body jetliners are included in the first approved batch of Boeing aircraft due for delivery to Iran Air by 2020. Deliveries start in May next year.
Boeing said in December it would cut 777 output by 40% this year under plans that include Iran Air’s still-tentative order.
Iran Air has agreed to buy 200 US and European passenger aircraft worth up to $37 billion at list prices, though such deals typically include big discounts. They include 80 jets from Boeing, 100 from Airbus and 20 turboprops from Franco-Italian ATR.
All the aircraft need US licenses because of their reliance on US parts.
“Boeing continues to follow the lead of the US government with regard to working with Iran’s airlines, and any and all contracts with Iran’s airlines are contingent upon US government approval,” a spokeswoman said by email.
An Airbus spokesman had no immediate comment.
In its first business with the Islamic Republic since US President Donald Trump took office vowing a tougher stance on Iran in January, Boeing last month announced a tentative deal to sell 30 jets to Iran Aseman Airlines, its third-largest carrier.
Boeing said it would apply for licenses for the deal.
People involved in the deals say the US Treasury has so far issued licenses for the main contracts between western suppliers and Iran Air, but that many need to be renewed beyond 2020.
Iran Air does not need further approvals to take delivery of the first 70 or so aircraft, they say, though legal experts have said the US Treasury can withdraw licenses at any time.
About a third of the Airbus jets, or some 37, also are due to arrive by 2020, including three already delivered.
Iran Air last week took delivery of four ATR turboprops and plans to take the remaining 16 next year.

Short URL : https://goo.gl/vwTEvu
  1. https://goo.gl/uybmRe
  • https://goo.gl/HveQiP
  • https://goo.gl/xZXsQz
  • https://goo.gl/AyFXfi
  • https://goo.gl/KT8xFs

You can also read ...

German firms, especially those without business links to the US, want to continue their Iran business.
While Germany’s big banks are studiously avoiding Iran-related...
IMF Pledges Continued Work With Central Bank of Iran
More than a week after US Treasury Department blacklisted...
New Rules Allow  Direct Forex Sale
Businesspeople that have validated their purchase orders are...
Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Iran Mercantile Exchange launched saffron futures trading for...
Banking Amendments Approved
The Money and Credit Council approved the Central Bank of Iran...
Iran Khodro Expanding Presence in Iraqi Market
Iran’s largest carmaker, Iran Khodro, is set to export 6,000...
Uber Plans Taxi-Hailing  in Japan
Uber Technologies plans to launch its first taxi-hailing pilot...
Tesla Admits Model 3 Braking Issue, Promises Fix
Tesla Inc’s Chief Executive Officer Elon Musk admitted on...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus