Boeing set to lose USD20 billion as US ditches Iran nuclear deal
Plane makers Boeing and Airbus could be about to lose a mammoth $39 billion in aircraft sales thanks to President Donald Trump’s pull out of the Iran nuclear agreement.
US Treasury Secretary Steve Mnuchin said licenses to produce aircraft for Iranian airlines will be revoked.
Airlines had ordered about 200 new jets from Boeing, Airbus and ATR.
Even though Airbus is a non-US entity, the new sanctions would affect its contracts as it includes US-built parts.
Airbus is currently mulling the potential impact.
"We’re carefully analysing the announcement and will be evaluating next steps consistent with our internal policies and in full compliance with sanctions and export control regulations," said Airbus head of communications Rainer Ohler.
Boeing, which could lose $20 billion in sales, said it ‘will consult with the US government on next steps.’
It has agreements to produce about 80 planes for Iranian airlines.
New sanctions against Iran could include certain exemptions or waivers, which gives Boeing a glimmer of hope.
It all adds up to more woes for the commercial air industry as a whole with crude oil prices jumping close to its highest level since 2014.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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