Future BMI 2017 Qatar
 
Saturday, December 3, 2016
Directory Directory Subscribe
Login
 

Airbus signs Iran deal for 118 planes worth $27 billion

 
 

Please, enter data

Please, enter data

Reuters, 29 January 2016

Iran agreed on Thursday to buy 118 Airbus jets worth $27 billion at list prices, including a dozen A380 superjumbos, after international sanctions were lifted against Tehran this month.

The planemaker said the deal, signed amid a raft of others during a visit by President Hassan Rouhani, was conditional on getting U.S. export licenses because more than 10 percent of Airbus jetliner parts come from the United States.

The order for 73 wide-body and 45 narrow-body jets allows Airbus to steal a march on US rival Boeing (BA.N) as Iran seeks to renovate and expand its worn-out fleet of 225 planes.

The inclusion of A380s - the world's largest jetliner - sends a commercial signal to established carriers in the Gulf, and is a boost for Airbus, which has been struggling to sell them. However, they will not be delivered before end-decade as Iran expands its airports and focuses on urgent needs.

Boeing has so far held back from Iran amid what industry sources and diplomats describe as political and legal concerns, but Iranian officials are urging it to mimic its European rival.

The Airbus deal depends on unraveling a knot of financial issues including whether and how Iran can avoid using the U.S. financial system for the jets, usually priced in dollars.

Deputy transport minister Asghar Fakhrieh Kashan told Reuters the deal would be financed using a mixture of European export credits – which guarantee loans by commercial banks – and lease financing.

In an unusual move, Iran plans to set up a national leasing company with foreign investors invited to take a stake and no automatic restriction on basing it outside Iran.

But problems need to be ironed out on rules for export credit deals amid quibbles over collateral.

The deal was negotiated partly on the sidelines of a major CAPA aviation conference in Tehran this week, where Iran outlined requirements for 400-500 planes and offered flexible new regulations.

"It was the first international platform for Iran to say we are back in business" since implementation of the deal ending sanctions on Jan 17, Bertrand Grabowski, a managing director of DVB Bank, said.

Other models ordered include 45 A320-family jets and 45 longer-haul A330s. Both those sets of orders included current and revamped models and helped lift the catalog value of the deal from earlier estimates of $25 billion.

Iran also ordered 16 long-range A350-1000 twin-engined jets.
Reuters
29 January

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Qatar emerges as Ukraine's key investment partner
The Peninsula, 1 December 2016

Qatar is considered as a very important commercial and investment partner and a potential supplier of Liquefied Natural Gas (LNG) to Ukraine, said Yevhen ...

Read full story
Qatar emerges as Ukraine's key investment partner
Private construction companies in Egypt implement projects worth EGP 39.8bn ($2.2 billion) in 2015: CAPMAS
Daily News Egypt, 1 December 2016

Construction companies in the private sector have implemented projects worth EGP 39.8bn in 2015, an increase of 27.1% compared to the previous year, according to ...

Read full story
Private construction companies in Egypt implement projects worth EGP 39.8bn ($2.2 billion) in 2015: CAPMAS
Back to Home Page 2688 --- 363 <><><> 1019.....exvideo=0....eximage=0
P 0
BR 26

Future Landscape UAE 2017

 

 
3rd Annual Future Drainage & Stormwater Networks Qatar
5 - December 2016
2nd Annual Marine Data Infrastructure GCC
30 - January 2017
3rd Annual Future Landscape & Public Realm UAE
6 - February 2017
LightingTech KSA
6 - March 2017
3rd Annual RetrofitTech UAE Summit & Awards
20 - March 2017
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

2nd Annual Mosque Design & Development UAE 2017

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  3rd Annual Future Drainage & Stormwater Networks Qatar - 5 December - 6 December 2016  
  Solar & Wind Projects Jordan - 6 February - 7 February 2017  
  3rd Annual Future Landscape & Public Realm Abu Dhabi - 6 February - 7 February 2017  
  Project Egypt - 8 February - 11 February 2017  
  2nd Annual Marine Data Infrastructure GCC - 27 February - 28 February 2017  
  Food Africa Cairo - 22 April - 24 April 2017  
  Project Qatar - 8 May - 11 May 2017  
  Qatar StoneTech - 8 May - 11 May 2017  
IFP Group Events Calendar

 


Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Energy Lebanon
Project Lebanon
Qatar
3rd Annual Future Drainage & Stormwater Networks Qatar
Heavy Max
Project Qatar
Qatar StoneTech
Iraq
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2016 - © All rights reserved