The beginning of the year brought the arrival of “Implementation Day” under the Joint Comprehensive Plan of Action (JCPOA) and its potential for business opportunities in Iran that had been shut off for decades (See Jan. 22, 2016 Katten/RTL Aviation Advisory, ““Implementation Day” Brings Openings for Commercial Aircraft Sales With Iran”). Since that time, actual opportunities under this program have been slow to develop and subject to intense scrutiny.
However, a breakthrough of sorts emerged on September 21, when the US company, Boeing Co., and the European rm, Airbus SAS, each reported that they received licenses from the US Of ce of Foreign Assets Control (OFAC), allowing them to proceed with sales and leases of commercial aircraft to state-owned Iran Air. With these licenses, both companies take important steps forward in thawing the freeze in the commercial aircraft market in Iran.
Please see full Advisory below for more information.