Details of Iran Air's $20 billion contract with foreign manufacturers disclosed

Business Materials 7 May 2019 17:23 (UTC +04:00)

Tehran, Iran, May 7


Former Managing Director of Iran Air Farzaneh Sharafbafi has provided the latest updates on Iran $20 billion contract with Boeing, Airbus and ATR for purchase of 200 planes.

"The contract with Boeing requiring $400 million credit is delayed; in the meantime, the contract with Airbus is in force and three aircraft from the company have arrived. The contract with ATR is also effective, and 13 planes have been imported in the country,” she said, Trend reports citing ISNA.

Speaking during the appointment ceremony of new Iran Air chief, Sharafbafi noted the all three contracts need to be reviewed by experts. "The US withdrawl from the Joint Comprehensive Plan of Action (JCPA) delayed all the licenses from the US Office of Foreign Assets Control (OFAC) that would allow Iran to import planes until 2020. It also delayed contracts' execution, but we try to keep up the fleet and receive services from related manufacturers."

She added, "The OFAC offered six-day deadline for Iran to import six aircraft. In the meantime, five aircraft already arrived to the country and eight aircraft were produced. The ATR has informed us that they would follow their commitments, so that spare parts worth $5 million are to be purchased from ATR.”

Speaking about the problem of fueling Iranian aircraft in foreign airports, Sharafbafi said," After seven months of efforts, we hope to be able to deliver aviation fuel to our planes in Turkey this week."

During the ceremony, new Managing Director of Iran Air Toraj Dehghan Zangeneh has announced that the company's priorities would include renovating the company's structure and increasing the air fleet.