Long-term interaction to begin between U.S. and Iran in private deal

TEHRAN (INTELLIHUB) — Boeing signed a $16.6B deal with Iran Sunday, for 80 new aircraft, despite pressure from Republicans in Congress to botch the deal.

The New York Times reports:

In September, the Treasury Department gave approval for Boeing and its European competitor, Airbus, to sell planes to Iran.

Boeing confirmed the deal, saying that the contract was reached within the terms of the government license that the department had issued.

The sale includes 50 twin-jet, narrow-body 737 planes and 30 long-range, wide-body 777 aircraft. The first airplanes are scheduled for delivery in 2018, with the entire order being fulfilled over 10 years.

The deal will be the first step in almost four decades that will involve “long-term interaction between Boeing trainers and employees of Iran Air,” Thomas Erdbrink wrote.

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