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Iran Air Boeing 747SP EP-IAB. Taxing down the runway at Mumbai Airport. Photo copyright Vedant Agarwal.
Iran Air Boeing 747SP EP-IAB. Taxing down the runway at Mumbai Airport. Photo copyright Vedant Agarwal.

Boeing finalizes $16.6 billion deal with Iran Air

American air framer, Boeing has finalized an agreement with Iran Air for 80 aircraft that includes 50 737 MAX 8s, 15 777-300ERs and 15 777-9s. The deal is valued at $16.6 billion at current list prices.

The deal which was first announced in June and finalized on Sunday, has come just as the political atmosphere in the US is changing. The deal is expected to face opposition from many congressional representatives and President elect Donald Trump whom are openly critical of the current administration’s policy in regards to Iran.

Boeing had received approval to sell aircraft to Iran Air in September but had to wait for a license from the U.S. Treasury Department’s Office of Foreign Assets Control before finalizing the sale.

Iran Air is expected to receive the first aircraft from this agreement in 2018 if the deal proceeds on schedule.

Boeing has stated that the agreement will support tens of thousands of U.S. jobs directly associated with production and delivery of the 777-300ERs and nearly 100,000 U.S. jobs in the U.S. aerospace value stream for the full course of deliveries. And that the companies U.S. supply chain currently supports more than 1.5 million U.S. jobs.

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