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Airbus, Iran 118-Plane Deal Just Part of French Spending Spree

Image: Airbus, Iran 118-Plane Deal Just Part of French Spending Spree

Iran's President Hassan Rouhani speaks at a joint news conference at the Elysee Palace in Paris. (REUTERS/Charles Platiau)

By    |   Friday, 29 Jan 2016 07:07 AM

Iran purchased 118 Airbus planes on Thursday as part of a $16 billion spending spree in France now that Western economic sanctions have been lifted.

The Seattle Times reported that the deals were signed by President Hassan Rouhani in a ceremony at the Elysee Palace in France. The trip came just days after Rouhani visited Italy to buy goods and services for post-sanctions Iran.

The Airbus deal includes an order for twelve A380 superjumbos.

Another deal stuck an agreement with automaker PSA Peugeot Citroen, which will now help modernize a car plant in Tehran.

"Among other deals announced in the French capital, Aeroports de Paris and Bouygues will assist in the construction of a new terminal at Tehran’s main Imam Khomeiny hub and Vinci signed an outline agreement to run and renovate airports at Mashhad and Ispahan," the Times reported.

CNN Money reported that Rouhani announced that Iran is looking for investment in "energy, oil, gas, agriculture, modern technology, automobile industry, mining, telecommunications, modernization of air fleet and railways, and tourism cooperation." 

According to Reuters, some companies, such as Boeing, have held back from striking large deals with Iran for political and legal reasons.

"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," wrote Reuters.

The purchase comes as British Airways confirmed it may resume flights to Tehran. Air France and KLM are expected to follow suit.

Earlier in the week, Rouhani visited Italy, where he also signed deals worth billions of dollars.

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Iran purchased 118 Airbus planes on Thursday as part of a $16 billion spending spree in France now that Western economic sanctions have been lifted.
airbus, iran, 118 planes
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2016-07-29
Friday, 29 Jan 2016 07:07 AM
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