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Iran signed $16.6 billion deal with Boeing

Monday, 12 December 2016

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As a consequence of the American-led international nuclear deal with Iran, the Middle Eastern country signed a $16.6 billion deal with Boeing to renew its commercial fleet.

The new deal will allow the Islamic Republic to renew its aged commercial fleet. Iran has purchased 80 passenger planes, including 50 Boeing 737s and 30 Boeing 777s of two modifications.

All 80 machines will be delivered by Boeing over the next decade, with first plane scheduled for delivery in 2018. This is the largest US-Iranian deal since the Islamic Revolution and the takeover of US Embassy in Tehran.

According to Iranian Transport Minister Abbas Akhoundi, who attended the signing ceremony, this deal alone will create 8,000 jobs for Iranians.

Most of Iran’s commercial fleet was purchased in 1979, and as a consequence its planes are extremely aged: 88 of 250 Iranian planes are currently grounded because of a lack of spare parts.

This deal was possible thanks to the Joint Comprehensive Plan of Action, commonly known as the Iranian nuclear deal: the US and other Western countries agreed to lift sanctions against the Islamic Republic in exchange for Iran opening its nuclear objects for International Atomic Energy Agency (IAEA) inspectors for next 20 years to prove they are not being used to create of nuclear weapons.

This deal has been criticized by president-elect Donald Trump, who believes the 20 year limit won’t prevent Iran from making a nuclear weapon in distant future. Iranian Transport Minister Abbas Akhoundi expressed his hope that the new US administration will not revise the terms of the agreement.

Source by: Internet

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