POST Online Media Lite Edition


Boeing plane deal sealed at half price, Iran says

Staff Writer |
Iran said it had negotiated to pay only about half the announced price for 80 new Boeing airliners in an order that the U.S. planemaker had said was worth $16.6 billion.

Article continues below

Despite Iran’s great need for new planes to replace those from the sanctions era, it has entered the market at a time when Boeing, Airbus and smaller planemakers have all faced a downturn in orders, and are therefore expected to offer deep discounts.

Boeing said this month it was cutting production of its 777 long-haul jet due to a drop in demand.

“Boeing has announced that its Iran Air contract is worth $16.6 billion. However, considering the nature of our order and its choice possibilities, the purchase contract for 80 Boeing aircraft is worth about 50 percent of that amount,” said Iranian Deputy Minister of Transport Asghar Fakhrieh-Kashan, quoted by Iran’s IRNA state news agency.

What to read next

U.S. grants Airbus, Boeing permission to sell aircraft to Iran
IIC to insure new ATRs
India's Jan-June Iran oil imports climb by a third