Plane deliveries to be hampered if US avoids extension of export licenses

TEHRAN, Feb. 10 (MNA) – IranAir is not having problems financing plane purchases from Boeing (BA.N) and Airbus (AIR.PA) but deliveries could be hampered if the United States does not extend export licenses, Iran Air (HOMA) CEO Farzaneh Sharafbafi said on Thursday.

She told Reuters on the sidelines of a Euromoney Iran Conference in Paris that the national carrier would receive its first Boeing passenger jet later this year, after nuclear-related sanctions were lifted in 2016. IranAir expects to start receiving custom-built Airbus aircraft next year.

“The delivery of Boeing will be in 2018 and Airbus in 2019.We have no problem with the financing of the deals,” Sharafbafi said.

IranAir has agreed to buy 80 aircraft from Boeing and 100 from Airbus but only a handful have been delivered amid what bankers describe as a shortage of financing for Iran, due to the reluctance of Western banks to risk US penalties.

Industry sources say another key sticking point is that IranAir has been slow to pay deposits, which are needed for Boeing and Airbus to start building new jets.

Sharafbafi confirmed deposits had not been paid, without elaborating.

MA/4223651

News Code 132038

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