Boeing, Airbus get green light to export commercial aircraft to Iran

According the Associated Press, the U.S. Treasury’s Office of Foreign Assets Control has granted permission to Boeing and Airbus to export commercial aircraft to Iran.    The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has granted permission to Boeing and Airbus to export commercial aircraft to Iran, the Associated Press said.
   Both plane manufacturers have been actively cultivating deals with Iran Air since earlier this year when U.S. and European trade sanctions against Iran began loosening with the phase-in of the nuclear agreement reached between the countries.
   The AP noted that although Airbus is based in Europe, it still required an OFAC license to export aircraft to Iran because at least 10 percent of the parts in each of its planes are U.S. origin.
   An Airbus spokesman reportedly told the AP that the company’s OFAC license covers 17 planes – A320s and A330s – of the company’s initial deal with Iran Air. In January, Iran Air entered agreements with Airbus to purchase 118 planes, valued at an estimated $25 billion.
   Boeing also reached a tentative deal this year to sell Iran Air upwards of 80 planes with a value of $17.6 billion. Deliveries are expected to run from 2017 to 2025, the AP said.