Lifting of sanctions will see Iran purchase 80-90 aircraft per annum

Long-lasting sanctions against Iran has seen the average age of its commercial aircraft reach twice the industry average at 23 years. As a consequence and with a population of over 80 million, it is estimated that over the next ten years the country will need to purchase 400 commercial aircraft. A senior aviation official was quoted by the state news agency IRNA as indicating that the purchases would be split equally between Boeing and Airbus.
“Iran will buy a total of 80-90 planes per year from the two aviation giants in the first phase of renovating its air fleet,” said Mohammad Khodakarami who, according to IRNA, is currently the caretaker director of Iran’s Civil Aviation Organization.
He also stated that “We will purchase planes from Boeing and Airbus in equal numbers.” Last month’s agreement between Tehran and world powers has introduced the strong possibility that both banking and trade sanctions currently imposed on Iran would be lifted, maybe towards the end of the year.
On the basis sanctions will be lifted, Iran intends to fund the purchases through a variety of means, including a mixture of leasing, foreign loans and state funds.