TEHRAN, Iran (AP) – European airplane manufacturer ATR said Thursday it signed a $536-million deal with Iran Air for at least 20 aircraft, the latest aviation firm to strike a deal following Iran’s nuclear deal with world powers.
ATR spokesman David Vargas confirmed the deal for the 20 ATR 72-600s, a twin-propeller aircraft, and said Iran Air had an option to purchase another 20.
“They will definitely help Iran Air to modernize and develop regional connectivity across the country,” Vargas told The Associated Press.
Vargas declined to offer a value for the overall deal. The confirmed portion of the deal is worth $536 million at list prices, though buyers typically negotiate discounts on bulk orders.
Farhad Parvaresh, the CEO of Iran Air, told the state-run IRNA news agency that the French-Italian company will deliver nine ATR 72-600s in 2017 and the rest in 2018. He said four of the aircraft will arrive within a month after signing the contract.