80089
Iran Deal With Bombardier Nears Conclusion
Iran Deal With Bombardier Nears Conclusion

Iran's Deal With Bombardier Nears Conclusion

The Canadian planemaker has obtained the license for sales of 10 aircraft from the US Treasury’s Office for Foreign Assets Control and is ready to finance 80% of the order
Deliveries are expected to begin ten months after the deal is unveiled

Iran's Deal With Bombardier Nears Conclusion

Canadian planemaker Bombardier has submitted a draft contract for 10 brand-new CRJ-900 NextGen regional jets to Iran’s Qeshm Free Area Organization for review and finalization, Reza Baqerinejad, the CEO and Chairman of Qeshm Investment and Development Company told the Financial Tribune on Monday, noting that the final contract will be officially unveiled within a month.
“The planemaker has obtained the sales license from the US Treasury’s Office for Foreign Assets Control and is ready to finance 80% of the order. The remaining 20% would be funded by Qeshm Free Area,” he said without providing further details about the total value of the contract.
The contract with Qeshm Free Area marks Bombardier’s first foray into the Iranian market as no Iranian airline has ever operated planes manufactured by the Canadian company.
Deliveries are expected to begin ten months after the deal is unveiled, Baqerinejad said. “Bombardier is expected to deliver two planes every three months.”
The order is part of the organization’s plan to launch a new airline called ‘Fly Qeshm’ to promote tourism is the southern Qeshm Island.
Fly Qeshm, which Baqerinejad calls "Iran’s first smart airline", has already received required permissions from Iran aviation authorities.
The official believes using the modern CRJ-900 NextGen aircraft would allow the airline to offer services that are completely different from other Iranian airlines.
Bombardier’s deal with Fly Qeshm is not limited to purchasing regional jets, as “the contract includes maintenance and repair services, training and parts.”
The contract makes Bombardier the fourth planemaker that has granted permission from the US Treasury to sell aircraft to Iranian airlines, at a time when US President Donald Trump’s hostile approach toward the 2016 nuclear agreement has been raising concerns about the fate of aircraft orders.
Boeing, Airbus and ATR have been given the go-ahead with their contracts with Iran Air. The flag carrier has so far received 11 planes, 3 Airbus jets in addition to 8 ATR turboprops.
Meanwhile, Iran Aseman Airlines' contract with Boeing to purchase 30+30 Boeing 737max jets is still pending OFAC licenses.

Short URL : https://goo.gl/n1S4wm
  1. https://goo.gl/NEjfdr
  • https://goo.gl/UeeuNj
  • https://goo.gl/MnxRnC
  • https://goo.gl/kAEHRY
  • https://goo.gl/efXnog

You can also read ...

Online Forex System to Help Promote Transparency
Governor of the Central Bank of Iran has provided further...
TCCIM chief, Masoud Khansari (C), meets Sweden’s Ambassador to Iran Helena Sangeland in Tehran on April 18.
As a Swedish business delegation met with their Iranian...
JP Morgan Sees Headwinds for Tesla Shares
Tesla’s electric car sales will suffer due to increased...
Capital Intelligence participated in a gathering hosted by the Center of Investment and Consultancy Services  in tehran on April 21. (Photo: Saeed Ameri)
Having entered a new era after the lifting of most sanctions...
Banks to Decide FX Deposits’ Interest Rates
The Central Bank of Iran has focused on encouraging people to...
Opel’s owner PSA aims to eliminate 3,700 jobs under a program of voluntary departures.
Planned job cuts at carmaker Opel will save enough cash to...
PTA With Turkey Not in Iran’s Interests
Iran’s economic interests have not been incorporated in its...
Several lines of the subway network are still under construction.
Allocation of 7 trillion rials ($166.6 million) worth of bonds...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus