In October, Airbus Group posted lower than expected third-quarter profits, although the company broadly maintained its full-year financial forecasts.
Airbus signed a firm contract on Thursday, December 22, for the sale of 100 aircraft to Iran Air, as Tehran and Western companies race to re-open trade almost a year after sanctions against Iran were lifted.
It said the contract, which Iran kicked off earlier this week, covered 46 Airbus A320 planes, 38 A330 planes and 16 A350 XWB aircraft, with deliveries due to begin in early 2017.
The head of Iran Air was quoted on Sunday as saying the value of the contract would not be more than $10 billion.
The deal, part of plans to renew the airline’s decaying fleet, comes against a backdrop of criticism by conservatives in Washington and Tehran of last year’s international agreement to allow such business after decades of sanctions.
Airbus said the deal was subject to U.S. government Office of Foreign Assets Control (OFAC) export licenses, which were granted in September and November 2016.
Sanctions were lifted in January but were followed by months of regulatory delays, and Iran has only just finalized a deal to buy 80 jets from Airbus’ U.S. rival Boeing (BA.N).
