Boeing in deal to provide plane parts to Iran

Washington: Boeing has struck a deal with Iran Air to provide plane parts, the first time the US firm will be doing business with Iran since the US embargo of 1979.

According to a regulatory filing published yesterday, Boeing will supply goods and services "related to the safety of flight" to Iran Air, the country`s flag carrier. The filing says that the agreement, reached in the second quarter, includes the provision of airplane parts, manuals, navigation charts and data to the airline, in line with the US company`s recommendations to customers for such things as an aircraft modification, a parts replacement or inspection. Boeing also reported it had discussions with the flag carrier`s subsidiary, Iran Air Tours, on the potential sale of similar goods and services. The Chicago-based company said that it had generated no gross revenues or net profits during the second quarter in relation with those activities. In April, the US government issued a license allowing Boeing, for a "limited period of time," to provide "spare parts that are for safety purposes" to Iran. Boeing is still not allowed to sell new planes to Iran. The license was granted by the US Treasury Department in the context of an interim deal between world powers and Iran over its nuclear program signed in November. In late February, another US company, General Electric, indicated it had requested permission to sell spare airliner parts to Iran. Washington severed diplomatic relations with Iran in the aftermath of the 1979 Islamic revolution. The United States and European nations have imposed severe economic sanctions on Iran in recent years aiming to pressure Tehran to dramatically reduce its nuclear program for a lengthy period of time to keep it from developing nuclear weapons. Iran has steadfastly insisted its nuclear program is for civilian purposes.