Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

IranAir looking for planes not needing U.S. sales permit - website

Published 11/04/2018, 07:02 AM
Updated 11/04/2018, 07:02 AM
© Reuters. FILE PHOTO: A Sukhoi Superjet 100 regional jet is seen on the tarmac at the MAKS 2017 air show in Zhukovsky

DUBAI (Reuters) - IranAir is looking to buy planes from any company not requiring U.S. sales permits and may consider Russia's Sukhoi Superjet 100, the flag carrier's head was quoted as saying, as Iran tries to renew its aging fleet despite facing U.S. sanctions.

The U.S. Treasury’s Office of Foreign Assets Control (OFAC)revoked licenses for Boeing Co (N:BA) and Airbus (PA:AIR) to sell passenger jets to Iran after President Donald Trump pulled the United States out of the 2015 Iran nuclear agreement in May and reimposed sanctions.

"We welcome any (company) which is able to provide the planes needed by IranAir. We even have gone after planes such as Sukhoi 100 or planes made by non-European countries," said IranAir Chief Executive Farzaneh Sharafbafi, quoted by Iran's Roads Ministry website.

Most modern commercial planes have more than 10 percent in U.S. parts, the threshold for needing U.S. Treasury approval. But Russian officials have been reported as saying Sukhoi is working on reducing the number of U.S. parts in the hopes of winning an Iranian order for up to 100 aircraft.

"We will consider plane purchases if these companies can sell planes to Iran without an OFAC license, and are willing to negotiate," Sharafbafi added. She gave no further details.

IranAir had ordered 200 passenger aircraft - 100 from Airbus, 80 from Boeing and 20 from Franco-Italian turboprop maker ATR. All the deals were dependent on U.S. licenses because of the heavy use of American parts in commercial planes.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.