Friday, 19 January, 2018

More details on the Boeing-Iran deal: 80 aircraft for $17.6 billion

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The Boeing Co. this week offered further detail to a tentative agreement with Iran for aircraft sales, saying the proposed deal between the two sides would involve a mix of direct sales and leases.

According to a report from the Wall Street Journal, Boeing (NYSE: BA) offered up in a letter to lawmakers that voiced their worries over the deal that agreement included 80 sales valued at $17.6 billion.

The company also said it would also help state-owned Iran Air lease 29 new aircraft, all 737s.

Of the direct sales, 40 would be for the 737 MAX and six of the current Next-Generation 737 model, 15 for the the 777-300ER and 15 for the coming 777-9X.

The order would also include four 747-8s.

Each of the aircraft would arrive in Iran with ties to Wichita, where Spirit AeroSystems Inc. (NYSE: SPR) has work on all Boeing commercial programs.

That includes building about 70 percent of the both the Next-Generation and MAX models of the narrow-body 737.

The deliveries would run through 2025.

But the deal — which evolved from the eased sanctions on Iran in the wake of the Obama administration’s nuclear accord with Tehran — still faces hurdles, both in terms of financing and legislative backing, with Boeing reportedly writing in its letter to the lawmakers that it would cease to do business with any customer or country that was at any time no longer approved by the U.S government.

Boeing’s rival, Airbus, announced a 118-plane order from Iran in January, one it is still working to finalize.

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