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US Boeing to Sell Iran 100 Airliners

FILE - A Boeing 747 of Iran's national airline at Mehrabad International airport in Tehran.

The U.S.-based giant aviation corporation Boeing has reached an agreement with Iran to sell the country 100 passenger planes, Iran’s aviation authority announced Sunday.

The deal is one of three separate agreements made between Iran and Western plane makers for a total of around 200 aircraft since Washington lifted economic sanctions on the country in January.

"We have 250 planes in the country, 230 need to be replaced," said Ali Abedzadeh, the head of Iran's civil aviation body, though he added there is no set timeline for the delivery of the planes.

Most of Iran’s civil aviation fleet is in a state of disrepair and in desperate need of replacement, but Boeing is still waiting on final authorization of the deal from the U.S. Treasury, Abedzadeh said.

The contract for the Boeing planes is worth an estimated $17 billion, and should it be completed, would be the first time Iran bought planes from Boeing since before the 1979 Islamic Revolution.

In January, Iran reached a preliminary agreement with European aircraft manufacturer Airbus to purchase 118 planes, though that deal is also awaiting approval from the U.S. Treasury.

Approval from U.S. officials is required since more than 10 percent of Airbus materials are of American origin.