Iran Buying 114 Planes from Airbus, Interested in Boeing

Iran is planning to purchases 114 aircraft from Airbus the plane maker based in Europe by as soon as this March. Iran is also looking for other aircraft deals, said two senior officials from the government on Sunday, as the country is finally emerging from international isolation and sanctions.

The Islamic Republic might need up to 500 new aircraft over the upcoming three years, said one lawmaker at the first major Tehran post sanctions gathering of businessmen from around the world.

The Republic’s Transport minister told journalists that Tehran would talk in more detail next week with Airbus and was interested in negotiating with Boeing the plane maker in the U.S. about aircraft.

The Iranian government had said for quite some time it would have to revamp its aging fleet that was hit by shortages of parts due to bans in trading imposed by Western powers including the U.S. and the European Union.

Its fleet of aircraft suffered many fatal crashes over recent years said officials and the country could place at least one order over the next couple of months confirming the plans that were announced earlier in January ahead of the deal to lift the sanctions.

Iranian officials urged investors from around the world and airlines to move quickly into the country after the sanctions were lifted.

They said bring proposals. We would love to have many new contract with serve them as soon as possible to make up for losses suffered over the past.

Iran has just emerged from many years of strict economic isolation when last week leaders of the world lifted their crippling sanctions imposed against the republic in exchange for Tehran complying in curbing its controversial nuclear ambitions.

The new deal also has released frozen assets of Iran worth billions of dollars while opening the door for international companies that were previously barred from doing any business to return or to enter Iran for the first time.

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