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June 19, 2016 9:12 am

Iran Says Deal Reached to Purchase 100 Boeing Planes

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The logo for Boeing. Photo: Wikimedia Commons.

The logo for Boeing. Photo: Wikimedia Commons.

Iran has reached a deal to buy 100 planes from US planemaker Boeing (BA.N), and the two sides are awaiting approval by US Treasury authorities, the head of Iran’s Civil Aviation Organisation said in remarks published by state media on Sunday.

So far, Boeing has only been granted permission to present its products to IranAir and a handful of other airlines as it tries to catch up with Europe’s Airbus (AIR.PA), which won a provisional deal earlier this year for 118 jets worth $27 billion.

Read full story at Reuters.

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