Iran would buy 400 new commercial jets if sanctions eased

|By:, SA News Editor

Iran would purchase 400 new aircraft over 10 years if sanctions were lifted, the country's top aviation official reportedly says. The country has been banned from purchasing new Western airliners since the 1970s.

Of Iran's 250 commercial planes, about 150 are flying and the rest are "not functional" because of a lack of spare parts. The average age of the nation's commercial fleet is 22 years.

Under the recent deal with the international community over its nuclear program, Iran is allowed to acquire spare parts and services on a limited basis.

Companies that could benefit from Iran being allowed to buy aircraft include Boeing (BA), Airbus (EADSY), Bombardier (BDRAF), Embraer (ERJ), GE (GE) and Rolls-Royce (RRCEF).