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Iran receives more airplanes ahead of renewed US sanctions

AP  |  Tehran 

Iran has acquired five new airplanes a day before the US begins restoring sanctions suspended under the 2015 nuclear deal.

Iran's state-run IRNA agency reported today that the five ATR72-600 airplanes, which are twin-engine turboprops, had arrived at Tehran's Mehrabad International Airport.

Their arrival means Iran Air has received 13 of the 20 it ordered from the French-Italian manufacturer in April 2017. The deal had a list value of USD 536 million, though buyers and manufacturers typically negotiate lower prices.

The nuclear deal with world powers would have allowed Iran to replace its aging commercial fleet. But President Donald Trump's decision in May to withdraw from the accord halted billion-dollar deals Iran struck with Airbus and Boeing.

Iran's economy has rapidly deteriorated in recent months, fueling protests.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, August 05 2018. 13:50 IST