“We hope by getting the support of Mehr Eqtesad Bank for implementing quick impact projects and joint investments in setting up production lines for new aircraft parts, we will witness the development of the country’s aviation industry,” said Manouchehr Manteqi who is also the Secretary of Technology Development and Aviation Science-Based Industries Committee.
Manteqi added that Iran's Aviation Industries Organization already designs and manufactures aircraft components and supplies the aviation sector in the country. He also said the company is among the few firms in the world which are active in overhauling and marinating aircraft.
Iran has several private and public airline companies in operation. The oldest is the state-run Iran Air.
The developments in the country’s aviation sector come against the backdrop of the US-led sanctions against the country's civil aviation industry over its nuclear energy program.
The tough sanctions ban international companies from selling aircraft or spare parts to Iran.