Thursday, October 23rd, 2014
The Boeing Company is one of the most innovative companies in the world, pioneering in the fields of aerospace and defense in remarkable ways. The company has also been a trailblazer when it comes to global reach – it is currently the largest exporter in the US by dollar value and has customers in 150 countries. So it is not too surprising that Boeing is the first U.S. aerospace company to sell products to Iran since the 1979 U.S. hostage crisis.
Boeing announced today that it has sold $120,000 worth of products to Iran Air which include aircraft manuals, drawings, navigation charts, and data. The deal was thanks to reduced sanctions against Iran, with the U.S. Treasury Department issuing a license allowing Boeing to provide products to Iran, so long as they are used for safety purposes.
U.S. airplanes still cannot be sold to Iran, whose flagship airline is currently operating a fleet of very old Boeing airplanes in need of updates. However the sale is a good sign of warming relations between the U.S. and Iran and the potential of Iran as a market for American companies.