Boeing, Iran Air Sign Sales Agreement That Could Boost Ridley Park Factory

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Iran Air 747
Photo of a Boeing 747 at Mehrabad International Airport in Tehran courtesy of the The Associated Press.

Boeing recently signed an agreement with Iran Air, signaling the latter’s intent to spend $25 billion on Boeing planes, writes Jon Gambrell and Nasser Karimi for The Associated Press.

The agreement represents possibly the largest business deal between the Islamic Republic of Iran and the U.S. since the 1979 Embassy takeover in Teheran. And it could result in new contracts for Boeing’s plant in Ridley Park, which has suffered some setbacks recently.

However, despite last year’s nuclear deal, both the long-standing antagonism between the two countries and other sanctions that are currently in place could still complicate the agreement.

According to a statement by Boeing, the company signed the Iran Air agreement “under authorizations from the U.S. government following a determination that Iran had met its obligations under the nuclear accord reached last summer.”

According to Iran’s Transportation Minister Abbas Akhoundi, this deal could be on par with Iran’s earlier agreement with Boeing’s European rival Airbus.

“The initial talks were held, and I can say Boeing is negotiating with the U.S. officials and possibly the amount of our purchase is equal to Airbus,” said Akhoundi.

Read more about the agreement from The Associated Press by clicking here.

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