• Deal to be U.S. company’s first since sanctions lifted
  • Airbus said to get U.S. Treasury license within 10 days

Iran has signed a historic agreement with Boeing Co. to purchase 100 jetliners, concluding several stages of negotiations, an Iranian newspaper reports.

The plane maker has applied for a license from the U.S. Treasury to permit the deal and the final details will be revealed once government approvals are obtained, Ali Abedzadeh, director of Iran’s Civil Aviation Organization, said in an interview with Iran newspaper.

The transaction would be the Chicago-based plane maker’s first in Iran since sanctions were lifted from the nation in January and follows a $27 billion agreement with Airbus Group SE for 118 planes, including the A380 and A350 models. Iran’s efforts to upgrade its ageing air fleet may be complicated by regulatory hurdles, with manufacturers required to obtain licenses from the U.S. Treasury Department and some remaining sanctions making it difficult to arrange financing.

A Boeing official in Dubai declined to comment on Abedzadeh’s statements.

Iran expects to finalize a contract with European plane maker Airbus within 30 days as the plane maker has received a “promise” from the U.S. Treasury that it will get its license within 10 days, Asghar Fakhrieh Kashan, deputy minister for roads and urban development, told Fars News in an interview.

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