Boeing banned from being represented at Iran’s aviation summit

Boeing banned from being represented at Iran’s aviation summit

Baku, Azerbaijan, Jan. 26

By Umid Niayesh- Trend:

Boeing did not send any representatives to the Iran Aviation Summit 2016, to be held January 24-25, summit Secretary Ahmadreza Bayati said, Iran's Tasnim news agency reported Jan. 24.

The company needs to receive permission from the US Treasury Department, Bayati said, adding most likely the department has not issued permission for the company's presence at the summit.

Bayati further said that two US companies operating in the fields of air plane leasing and technical issues are involved in the event.

He did not unveil further details about the companies.

Bayati further said that Boeing should settle its problem with the US administration on selling planes to Iran, otherwise it will lose the Iranian market to its rival Airbus.

Iran Aviation Summit 2016 mainly focuses on leasing, not buying, aircraft by Iran in the post-sanction era.

Bayati earlier said that as a result of the fall in oil price and the lack of enough budget, it may be impossible in the next one or two years to buy aircraft.

Among the leasing aircraft companies present at the summit, Bayati mentioned two European Avolon and AerCap companies.

The second motive behind the event, according to Bayati, is to invite large banks and financiers, which are professionally active in leasing and selling aircraft, to come and invest in the Iranian aviation industry.

In addition to Iranian aviation-affiliated companies, more than 160 foreign companies from 35 countries have attended Iran Aviation Summit 2016.

Abbas Akhoundi, the Iranian Minister of Road and Urban Development said Jan. 23 that Iran will sign a contract for the purchase of 114 Airbus during Iranian President Hassan Rouhani's visit to France which is scheduled for January 27.

He further said that Iran currently has 256 passenger planes with 150 of them operational.

The US-led sanctions on aircraft and spare parts exports to Iran have left the Iranian airlines saddled with not only some of the oldest fleet in the Middle East, but in the world.

Iranian officials say the country needs to buy up to 500 passenger planes in the next 10 years to renovate its ageing fleet.

The analysts believe that Iran's air fleet will grow, however in the near term the country will have to settle for the lease of planes.

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