ATR says to sustain serious financial damage if deal with Iran breaks

TEHRAN, Jul. 05 (MNA) – ATR Chief Executive Christian Scherer said the Franco-Italian company will sustain “serious damage” to its finances if its contract with Iran breaks under US pressure.

According to Reuters, ATR Chief Executive Christian Scherer has been in talks with the US Treasury, urging the Trump administration to unblock the export of about six regional planes to Iran before the August deadline when the US sanctions will be reinstated against Iran.

Deliveries of ATR turboprops to Iran were halted in May after the US withdraw from the 2015 nuclear deal and the US Treasury said it would revoke export licenses.

Scherer told Reuters ATR would argue that it had sold aircraft “in good faith” under US government licenses and that blocking the rest of the deal would cause ATR “serious damage”.

After the signing of the JCPOA, IranAir ordered 200 aircraft, 20 of which were to be delivered by ATR. The company, co-owned by Airbus and Italy’s Leonardo, has so far delivered eight turboprops to IranAir, and the rest 6-8 aircraft, according to Scherer, would be ready for delivery by the August deadline.

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News Code 135426

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