Iran Has Reached a Deal with Boeing

This was a live report with the latest news from Iran Air’s deal with Boeing. The news is consequently marked by date and time of publication.

 

  • Iran has reached a deal with Boeing, it will be announced in a few days Abbas Akhoundi says. 14JUN16 13:10 UTC
  • On 12JUN16 Boeing confirmed that aircraft will be sold to Iran. On 06JUN16 Iran Air CEO said discussions are underway, the deal can be close to the 118 Airbus deal but certainly not bigger.
  • The Airbus deal has still not been finalised. Expected to be finalised mid/late-July. An Iranian delegation will attend Farnborough Airshow (11-17 July) where orders usually are announced.
  • Iran expects OFAC to give necessary licenses to allow aircraft purchases within 2-3 weeks.
  • On the sidelines, Iran announced to have saved $5-7 million in the recent negotiations of buying 6 A320s from Airbus.
  • Boeing has, as we expected, offered Iran the models 737, 777 and 787.
  • By Boeing’s standards, any deal shall firstly be announced by the customer.
  • This is the first aircraft deal between Iran and Boeing since the early 1970s. In November 2013, Iran Air had 7 engines repaired by Boeing after the Geneva Interim Agreement, the first cooperation since the late 1970s.
  • The Iranian airlines operate many Boeing aircraft models. The oldest, Iran Air B747 EP-IAC is 39 years old and is expected to fly 3 more months.
  • A Boeing executive has told The Washington Post that the deal will be announced today. 15JUN16 10:00 UTC
  • The deal was not announced on 15JUN16. 16JUN16 09:52 UTC
  • According to Reuters, BOC Aviation (Singapore) is linked to finance the deal.
  • Iran’s Road and Urban Developments Department says that the deal will be announced on 18-19JUN16. 17JUN16 17:36 UTC
  • A deal has now formally been announced. The written agreement involves 100 Boeing aircraft for Iran Air and is yet awaiting the US Treasury’s approval. Just like the Airbus deal, it cannot be finalized until all governmental approvals have been issued. 19JUN16 10:30 UTC
  • The deal includes 109 aircraft of the models B737-900, B777-300ER, B777-9 and B747-8. Half of the deal will be B737s. 22JUN16 14:33 UTC
  • The first aircraft could arrive in October 2016. 20JUN16 12:04 UTC
  • Direct buy: 4 747-8, 15 777-9, 15 777-300ER, 6 737NG, 40 737 MAX. Leased with Boeing support: 29 737NG. Total 109. – Reuters.