Iran signs formal deal with Airbus for 100 jets

Iran has signed a formal deal with Airbus to buy 100 narrow body and wide body aircraft.

The deal comes after sanctions were lifted in January followed by months of regulatory wrangling.

The multi-billion pound contract will see Iran Air buy 100 aircraft, building on an initial agreement signed in January 2016 in Paris.

The deal signed by Farhad Parvaresh, Iran Air Chairman and CEO and Fabrice Bregier, Airbus President and CEO, covers 46 A320 Family, 38 A330 Family and 16 A350 XWB aircraft.

Deliveries will begin in early 2017.

“I am delighted that we have reached an agreement to go to the next decisive phase and start taking delivery of new aircraft. I am gratified that this new round of cooperation with Airbus has come to fruition and brought us closer with more practical steps to follow for Iran Air’s fleet renewal.

Iran Air considers this agreement an important step towards a stronger international presence in civil aviation.

We hope this success signals to the world that the commercial goals of Iran and its counterparts are better achieved with international cooperation and collaboration”, said Mr Farhad Parvaresh, Iran Air Chairman and CEO.

“This is a landmark agreement not only because it paves the way for Iran Air’s fleet renewal”, said Fabrice Bregier, Airbus President and CEO.

“Our overall accord includes pilot training, airport operations and air traffic management so this agreement is also a significant first step in the overall modernisation of Iran’s commercial aviation sector”.