No Confirmation From U.S. Officials Yet, But Iran Says Major Agreement With Boeing Has Been Made

Iran's government said it finalized a major deal with Boeing Co BA to buy passenger planes to upgrade its outdated civilian air fleet. Iran's minister of roads and urban development, Abbas Akhoundi, told the Iran-based FARS news agency a deal could be officially announced in the coming days.

IranAir alone would purchase more than 100 of Boeing's jets and mark the largest commercial agreement between any U.S. and Iranian company dating back to the Islamic Revolution of 1979.

The United States ended many sanctions against Iran's government, which would make it now legal for Boeing to do business in Iran. However, neither Boeing nor the U.S. State Department are able to confirm a deal has been reached.

Related Link: Is Iran's Oil Output Surge A Bullish Sign For Oil Tankers?

In a statement made to USA Today, Boeing confirmed it has been engaged with Iran-based airliners with the approval of the U.S. government. As a matter of policy, the company does not disclose details of ongoing conversations with potential customers.

The statement also said that any deal reached a company based in Iran would be contingent on the approval from the U.S. government. During a press briefing on Tuesday, a State Department official told reporters that the United States has historically "allowed for case-by-case licensing" for deals involving "commercial passenger aircraft and associated parts and services" in the country.