Airbus, Boeing get U.S. approval to deliver jetliners to Iran

The U.S. government has given plane makers Boeing Co. and Airbus Group SE the all-clear to deliver jetliners to Iran Air in one of the highest-profile trade breakthroughs since nuclear sanctions were lifted on the Islamic Republic last January.

Western powers removed sanctions on Iran in return for the country agreeing to constrain its nuclear program. Business has been slow to materialize, though, amid concern among western businesses of running afoul of continued U.S. restrictions on doing business with Iran.

Airbus AIR, +1.04% , which was first to secure a plane deal with Iran, was first to receive the green light to transfer 17 planes to Iran Air, signaling the tide may be turning for doing business with Iran. Hours later Boeing BA, +2.17% , the world’s largest plane maker by deliveries, said it too had received its corresponding license.

Airbus on Wednesday said some of those deliveries may occur as early as this year, a spokesman said. Boeing aims to sell 80 jets directly to Iran Air as part of a proposed deal valued at up to $17.6 billion. It would be among the largest by a U.S. firm since the sanctions were loosened. Boeing said Wednesday it remained in talks with Iran Air about an existing tentative deal on plane purchases.

Source: MarketWatch