Iran to purchase 114 Airbuses after lifting of sanctions

After the lifting of sanctions, Iran has announced that it will buy 114 Airbus planes to revitalise its ageing fleet, in the first major commercial deal.

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Iran Transport Minister Abbas Akhoundi said a deal on the purchase would be signed between national carrier Iran Air and Airbus during a visit to Paris this week by President Hassan Rouhani, reports Tolo News.

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Rouhani will be on his first visit to Europe since the implementation of the deal curbing Tehran's nuclear activities in exchange for the lifting of punishing economic sanctions.

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Akhoundi said that modernising the country's air fleet and infrastructure is a top priority as only 150 of the country's plane are operational.

He said the first batch of new planes would arrive in Iran by March 2016 and added that they need 400 long- and mid-range and 100 short-range planes.

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Rouhani has hailed the agreement as a 'new chapter' for Iran as its economy returns to global market.

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Tehran still needs major transport upgrades that will boost tourism and trade.