Post-sanctions Iran helps planemakers solve 'orphan jet' problem

Iran's return to the world economy is helping planemakers cope with a downturn in global demand, providing homes for airplanes orphaned by reversals in the growth plans of airlines elsewhere. Planemakers are also gambling that the early delivery of such aircraft could help prop up a nuclear sanctions deal between Iran and world powers, threatened by conservative opponents in both Washington and Tehran, Western sources said. Since sanctions were lifted under the deal to reopen trade and curb Iran's nuclear projects, the Islamic Republic, trying to boost its economy after years of isolation, has joined a waiting list of up to eight years for 200 new aircraft. But efforts to meet its most immediate needs have been boosted by financial problems facing other airlines across the globe as new airplanes come onto the market at bargain prices. "We hunt opportunities in the market. If there are opportunities, we can take advantage of that," Deputy Roads and Urban Development Minister Asghar Fakhrieh-Kashan said. Despite denials by manufacturers that the downturn is hurting, Iran's return to the market has brought to light pockets of surplus aircraft. With presidential elections looming in May and keen to show the 2015 nuclear deal is working, Iran has proved only too keen to take up the slack. So far it has taken delivery of three Airbus jets. Industry executives say they were left on the planemaker's books when their Colombian buyer, Avianca, balked at taking delivery. Such orphan planes are often known as 'white tails'.<br/>