Plane Manufacturers Vying for Iran’s Market: Official

Plane Manufacturers Vying for Iran’s Market: Official

TEHRAN (Tasnim) – An Iranian official said a lasting nuclear deal between Tehran and world powers has prompted senior managers of aircraft manufacturing companies from six countries to travel to Iran in the hope of selling their products.

Ranking officials of aircraft manufacturers from Japan, China, France, Brazil, Canada and Russia came to Iran following the Vienna nuclear deal and held talks with the Iranian airlines to market their products, Maqsoud Asa’adi, secretary of the Iranian Airlines Association told Tasnim.

The trade talks are in progress, but no contract has been made so far, he added.

Experts believe that airplane sales to Iran will jump dramatically after the final nuclear deal comes into force, opening a significant opportunity for Western plane manufacturers.

Boeing Co. has said it saw a chance to sell planes to renew Iran's fleet of airliners, which are 23 years old on average, according to Ascend Flightglobal, a UK consultancy.

Western industry officials estimate that Iran, a country of 80 million people, will need 400 aircraft worth up to $20 billion in the next decade.

Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion over the text of a comprehensive 159-page deal on Tehran's nuclear energy program.

Once implemented, the Joint Comprehensive Plan of Action (JCPOA) will terminate all nuclear-related sanctions imposed on Iran.

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