Boeing (NYSE:BA) Gets US Approval to Sell Iran Planes

$BA, $EADSY

Boeing Co. (NYSE:BA) won US approval to sell its 1st jetliners to Iran in almost 40 years, paving the way for the biggest business transaction between the two nations since the 1979 Islamic Revolution and the U.S. hostage crisis.

The US Treasury Department granted licenses to Boeing and Airbus Group SE (OTCMKT:EADSY) Wednesday for the 1st of a flurry of aircraft orders that Iran is counting on to upgrade an aging fleet.

Airbus won approval to export the 1st 17 jets in a $27-B transaction announced in January as economic sanctions were eased. Boeing is still finalizing terms to provide as many as 109 jets to Iran Air, the Chicago-based plane maker said in an e-Mailed statement.

“It removes some uncertainty,” an analyst at Jefferies, said of Boeing’s license. “It says that commerce is important and commerce builds bridges. It is also a pathfinder for other people that may want to do business with Iran over time.”

Boeing’s last airplane deliveries to Iran consisted of 747 jumbos that arrived in Y 1977, 2 years before the revolution, according to the company’s website.

The Islamic Republic’s flag carrier would add more of the iconic, 747s, as well as 777 and upgraded 777X wide-body jets under a $17.6-B order for 80 Boeing aircraft. The US manufacturer is also helping Iran Air line up another 29 planes from leasing companies.

“Any final sales agreement would have to adhere to the license we’ve been issued,” Mark Sklar, a spokesman for Boeing, said by e-Mail.

Stay tuned…

  Airbus, BA, Boeing, business, commercial, fleet, Iran, jeliners, licence, planes, US

The following two tabs change content below.

• Bio
• Latest Posts

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

Latest posts by Paul Ebeling (see all)

• Add Ferrari (NYSE:RACE) To Your Watchlist Today - August 23, 2019
• Eat REAL Food to Improve Overall Health - August 23, 2019
• President Trump Ups the Stakes in the China Trade Dispute - August 23, 2019