December 11, 2016 11:59 PM

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Iran signs contract to buy 80 Boeing planes from US firm

Iran today signed an agreement to buy 80 planes from US firm Boeing. Chief Executive Officer of Iran Air, Mr. Farhad Parvaresh, signed the contract with the Boeing officials in Tehran. <br/><br/>Iran's state-run IRNA news agency said 50 Boeing 737s and 30 Boeing 777s will be delivered over the next decade. It is Irans's biggest agreement to be struck with an American company since the 1979 revolution.<br/>'<br/>In September, Washington granted permission to Boeing and its European competitor Airbus to sell billions of dollars' worth of aircraft to Iran. <br/><br/>United States, Britain, France, Germany, Russia and China agreed last year to lift crippling sanctions on Iran in exchange for it curbing its nuclear activities.<br/><br/>President-elect Donald Trump and several Republican lawmakers have criticised the nuclear deal, but it's unclear whether they would scrap the agreement. Iranian Transport Minister Abbas Akhoundi, who attended the signing ceremony, said it was a "historic" day for Iranian aviation and that the deal would create 8,000 jobs for Iranians.<br/><br/>Most of Iran's ageing fleet of 250 commercial planes was purchased before 1979, and as of June only 162 were operational, with the rest grounded because of a lack of spare parts.<br/>

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