Boeing, Iran Air enter new $16 billion agreement for 80 airplanes

SEATTLE. Boeing (NYSE:BA) and Iran Air officials have entered into an agreement for 80 aircraft – including 50 Boeing 737 MAX 8, 15 Boeing 777-300ER, and 15 Boeing 777-9 commercial aircraft – valued at $16.6 billion at list prices. The Memorandum of Agreement (MOA) with Iran Air falls within the terms of the U.S. Government license issued to Boeing in September, officials say.

Dec 13th, 2016
Boeing, Iran Air enter new $16 billion agreement for 80 airplanes
Boeing, Iran Air enter new $16 billion agreement for 80 airplanes

SEATTLE. Boeing (NYSE:BA) and Iran Air officials have entered into an agreement for 80 aircraft – including 50 Boeing 737 MAX 8, 15 Boeing 777-300ER, and 15 Boeing 777-9 commercial aircraft – valued at $16.6 billion at list prices. The Memorandum of Agreement (MOA) with Iran Air falls within the terms of the U.S. Government license issued to Boeing in September, officials say.

The new agreement will support tens of thousands of U.S. jobs associated directly with production and delivery of the 777-300ERs and nearly 100,000 U.S. jobs in the U.S. aerospace value stream for the full course of deliveries. Boeing's U.S. supply chain currently supports more than 1.5 million U.S. jobs, officials say.

The first airplanes under this agreement are scheduled for delivery in 2018.

Boeing coordinated closely with the U.S. Government throughout the process leading up to the sale and continues to follow all license requirements as it moves forward to implement the sales agreement.

The 737 MAX incorporates the latest CFM International LEAP-1B engines, Advanced Technology winglets, and other improvements to deliver high efficiency, reliability, and passenger comfort in the single-aisle market. The 737 MAX will be 14 percent more fuel efficient than today's most efficient Next-Generation 737s, company officials explain. The first 737 MAX is scheduled to enter service in 2017.

The 777-300ER is touted as the most fuel and cost-efficient airplane in its class as well as the most reliable twin-aisle aircraft in the world with the highest cargo capacity of any passenger airplane. To date, customers worldwide have ordered more than 800 777-300ER airplanes.

The 777X will include new engines and an all-new composite wing, and will leverage technologies from the 787 Dreamliner. The first 777X is scheduled to enter service in 2020.

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