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Iran Overview

Iran Overview

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60 views3 pages

Iran Overview

Iran Overview

Uploaded by

MLR123
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
The giant who came IRAN “| believe in 10-plus ETE CEL) ST Burn yt oa Cori in from the cold... Iran’s long-suffering airlines were in bullish mood after the lifting of nuclear sanctions in January, igniting a frenzy Of aircraft orders and talking up Tebran’s prospects as a Gulf mega-bub. Martin Rivers reports on the opportuniti¢ challenges that lie ahead. sand ne ofthe world’s bigest pariah ses Ope iricnisssciatin ean ten the iting of nocen sanctions against Iran ushered ina new era of cooperation ‘vith the ntemational community For the Islamic Republic's long-suffering civil tion willbe nothing short oftransformative, "More than thre decades of sanctions have left Iran's airlines in a sory state, Rigid enforcement action by the Office of Foreign Assets Control (OFAC), awing ofthe US Treasury pushed flag: carver Iran Ait and its 15 domestic ivalsinto the black market when buying and repairing aera ‘The sector's ingenuity and. perseverance ‘outwitted the best efforts of a US Government that viewed every Iranian aircraft asa military that, but success came ata pic Hundreds ha «Vin air accidents since thetum ofthe century giving Iran one ofthe worst sirsafety records in the world, Theinflated cost of procuring second-hand equipment away from ‘Washington’ gaze also heaped financial pressure ‘on Iranian curlers, with brokers charging a hefty Fisk premium for ther ili transactions ‘This, in tur, strangled the sector's growth prospects, Despite being larger and more populous than “Turkey, Iran’ flag-carier deploys one-tenth as many aircraft as Turkish Airlines, About half of the eountry’s250-phis commercial aircraft, which have anaverage ageof 23 years, are grounded for salty oF financial reasons, Once considered & market leader in Gulf aviation, Iran Ait has become a footnote against anew breed of caries in Qatar and the UAE In the words of Farhad Parvaresh, the flag: carrie’ clatirmen,itsemployees have spent most of their carers tying to “keep the company alive ‘through endless problems, sues and sufferings Now, finaly there is reason to believe that brighter days Fie ahead, “The joint comprehensive plan of action (JCPOA) has removed the ‘obstacles, "affirmed Abbas Araghchi ran’s Deputy Foreign Minister an sPOR’ ‘conmiUen FROMPAGE22 chief negotiator in the P54 talks that brokered the ‘nuclear accord, “How business is agin started depends on commercial decisions, “Things are gradually moving towards normalisation of business boween Iranian entities and foreignentitis.” Early signs ef that normalisation emerged ‘quickly in the aviation sector. ust I2days after the lifting of sanctions, European manufacturer Airbus unveiled a tentative mega order for 118 icra by Iran Air 45 A520 family jets Gncuding 2A ne0s),45.A530s (including 18ne0s), 16.4350: 1000sand 12 double-decker A380s Parvaresh subsequently signed an agreement forupto 40 ATR 72-600 20 firm orderssand 20, ‘options which Iran Airisexpected to deploy ina new domestics tas subsidiary Brazil's Embraer has also. confirmed negotiations over the sale of 0 regional jets -20 reportedly destined for Abadsn-based Zagros Airlines ~ although no contraets have been signed. Having initially kept alow profile in the pos sanatons boar, Boeing socuredalizence fromthe US Treasury in February that allows itll formal talks with Iranian carrier. The company 1

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