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Boeing still awaiting Iran ’s sanction removal

Business Materials 29 July 2015 10:11 (UTC +04:00)
The US giant aircraft manufacturing company Boeing is still waiting for removal of sanctions on Iran to enter in the country’s aviation market.
Boeing still awaiting Iran ’s sanction removal

Baku, Azerbaijan, July 28

By Umid Niayesh - Trend:

The US giant aircraft manufacturing company Boeing is still waiting for removal of sanctions on Iran to enter in the country's aviation market.

Iran and the P5+1(the US, France, the UK, Russia, China and Germany) reached a comprehensive nuclear deal on July 14, which paves the way for lifting international economic sanctions on Iran. However, the implementation of sanctions removal depends on the International Atomic Energy Agency's confirmation of the country's commitment to answer the UN body's questions and cooperation with the IAEA.

The US Congress has two months to fully review the nuclear agreement, during which time President Barack Obama cannot waive or suspend congressional sanctions against Iran that are currently in place.

"We're waiting on guidance from the US government and we'll remain on the sidelines until the Congress acts," Doug Alder, an official with Boeing told Trend July 28.

Iran has announced need for about 400 passenger planes in the next decade to modernize its fleets, at a cost of about $20 billion.

Iranian airlines are not interested in buying any more Russian planes. Their performance was unsatisfactory when flown in the country's aviation market during the sanctions period. They hope to improve the relations with the world in the wake of the nuclear deal to renovate their fleet with western aircraft.

However, Russian aircraft manufacturers remain interested in Iran 's market despite negative viewpoints in Iran.

In mid-July Russia 's Transport Minister Maxim Sokolov said that Tehran and Moscow are holding talks over Russia supplying the Islamic Republic with Sukhoi Superjet passenger planes. The 108-seat Sukhoi Superjet is the first new airliner Russia has developed since the fall of the Soviet Union.

Meanwhile the company refused to make comment on the issue.

"The manufacture of the Sukhoi Superjet 100 aircraft - Sukhoi Civil Aircraft Company - prefers not to comment for a while future of SSJ100 in the Iranian market," Marina Motornaya, head of the company's press office told Trend July 28.

Following an interim nuclear deal in 2014 Tehran was allowed limited purchases of only aircraft parts and repairs, but not aircrafts.

In July 2014 Boeing struck a deal with Iran Air to provide plane parts to the country's flag carrier, the first time the US firm was doing business with Iran since the US embargo of 1979.

The US aircraft manufacturing company sold various equipment to Tehran totaling $310,000 in revenue, generating a total profit of $27,000 by the end of 2014, Tim Neale, who leads communications for Boeing Washington, DC office, told Trend in May.

Edited by CN

Follow the author on Twitter: @UmidNiayesh

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