Iran to Sign $400 Million Deal with ATR for 20 Aircrafts

World - Pavan Pandey - Jan 02,2017

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iran to sign 400 million dollars deal with atr for 20 aircrafts

Iran’s Deputy Transport Minister, Mr. Asghar Fakhrieh-Kashan announced that a $400 million deal for the buying of twenty 70-seat passenger airliners will be finalized this week.

The agreement is with France-based ATR Aircraft manufacturer for the purchase of 20 twin-engine turboprop ATR 72-600 aircraft.

Mr. Asghar Fakhrieh-Kashan stated that a representative from ATR (Avions de transport regional), a joint venture of Airbus Group and Italian aerospace company, Leonardo Finmeccanica, will arrive in Tehran on 4th of January to hold the final round of business negotiations on the multi-million dollar agreement. He also added that the new planes will be flown in domestic flights routes.

Mr. Kashan further noted that 5 airplanes are expected to be transported to Iran’s flag carrier airline, Iran Air, by the end of the present Iranian year (20 March 2017). In his statement, he said the final version of the agreement will be reviewed, and if there is no problem, it will be negotiated by both sides.

A preliminary agreement on the purchase of the ATR airliners was reached during Iranian President Mr. Hassan Rouhani and his associated business delegation’s tour of Italy in the month of January, last year. At the same time, Mr. Rouhani also visited Paris for further tying up the deal.

Iran has already signed the agreement with Europe’s Airbus to buy 118 planes worth approximately $27 billion.

Last year, Iran had also signed a contract with American aircraft designer and manufacturer Boeing Co. to purchase 100 passenger planes. The deal with Boeing Co. was finalized in December 2016, letting Iran buy 80 airliners within the next 10 years and the first fleet is expected to deliver in 2018.

These deals will be noted as Iran’s biggest commercial deals with the West since its 1979 revolution.