Boeing wins US permit for first Iran jet sales since Shah era

Boeing won US approval to sell its first 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 US hostage crisis. The US Treasury Department granted licenses to Boeing and Airbus Group Wednesday for the first of a flurry of aircraft orders that Iran is counting on to upgrade an aging fleet. Airbus won approval to export the first 17 jets in a US$27b transaction announced in January as economic sanctions were eased. Iran Air would add 747s, as well as 777 and upgraded 777X wide-body jets under a $17.6b order for 80 Boeing aircraft. Boeing is still finalising terms to provide as many as 109 jets to Iran Air. Boeing is also helping Iran Air line up another 29 planes from leasing companies. <br/>