Boeing reaches $3b deal to sell jets to Iranian Airline

Boeing reaches $3b deal to sell jets to Iranian Airline

Iran's Aseman airline signed a contract with Boeing on Tuesday, April 4 to buy 60 737 Max aircraft, according to the Islamic Republic News Agency (IRNA). Permitting Boeing to smoothly sell and transfer planes to Iran's commercial airline industry is the epitome of such a policy. Boeing struck a December deal with Iran Air, the country's flagship carrier, for 80 passenger planes worth $16.6 billion.

Boeing said it had negotiated the agreement with Aseman Airlines under authorization of the US government. As part of the Iran nuclear agreement, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) under the Obama Administration began to issue licenses to Boeing and Airbus for the sale of civil passenger aircraft to Iran past year.

Boeing Co. agreed to sell up to 60 of its most popular jets to an Iranian airline, doubling down on the country amid uncertainty over the Trump administration's tolerance for US business dealings in Iran.

Last month, Trump said on Twitter that the agreement gave Iran a $150 billion "lifeline", presumably referring to previously held-up Iranian assets that some analysts say are actually closer to $100 billion.

Boeing noted that the deal could create or sustain approximately 18,000 U.S.jobs, citing data from the U.S. Department of Commerce. The company accordingly announced that Boeing would start to deliver the planes in 2018 and the deliveries would be completed within 10 years. Reasonable, perhaps, but we wouldn't bet the ranch on it.

More news: Shiv Sena MP slaps Air India staffer with slipper, booked

Less than a week after that decision, the airline sealed a deal to lease seven planes made by European manufacturer Airbus.

This is Boeing's second deal with an Iranian airline. The deal will have these planes being sold for $3 billion. When he was still Trump's national security adviser, Michael Flynn said that Iran was "officially on notice" after it conducted a missile test in February. Trump has threatened to renegotiate terms of the Iran deal, while some lawmakers have suggested putting new sanctions in place and criticized Boeing for selling aircraft to Iran.

However, it recently suffered a blow to its reputation - it was banned from flying into the European Union over safety concerns in December.

Trump campaigned against the deal, which he said was bad for American interests and security.

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