Boeing CEO says end of Iran deal won't hurt 737 production

Boeing CEO says end of Iran deal won't hurt 737 production

He was speaking a day after President Donald Trump announced that the USA was withdrawing from the deal, which had curbed Iran's atomic programme in exchange for sanctions relief.

Airbus Group in 2016 secured an order for 100 aircraft - including 16 A50s and 38 A330 family aircraft and 46 from the A320 family -, worth $US19 billion at list prices. Industry sources said Boeing had been tentatively due to send Iran three 777s this year but had reshuffled deliveries with other buyers. Boeing separately struck another 30-airplane deal with Iran's Aseman Airlines for $3 billion at list prices.

"As we have throughout this process, we'll continue to follow the U.S. government's lead", said Boeing spokesman Gordon Johndroe.

It's not just about Iran: Late last week, for example, the Air Force announced the selection of Lockheed Martin and Northrop Grumman to begin work on a new constellation of missile-warning satellites. "The good news is that the fundamental strength of the 777 product line and the increased sales volume that we're seeing in the marketplace both for 777-300ERs and for the 777 freighters has only bolstered our confidence in that line", he said.

Other leading US aerospace firms posted gains - partly due to expectations for increased defense spending, and partly as a reaction to last week's defense-stock selloff.

The sanctions on oil purchases will be the same as under the administration of former President Barack Obama.

With the US exiting the Iran deal, American companies are set to lose big bucks, keeping them from being able to grow the American economy.

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Trump said on Tuesday he was withdrawing the United States from the global nuclear deal with Iran, arguing the deal provided Tehran generous sanctions relief without imposing tough enough limits on its nuclear program or other "sinister" activities. The reinstatement of sanctions represents a lost opportunity for Toulouse-based Airbus, Chicago-based Boeing and American plane engine-makers such as General Electric.

Speaking of energy, France's Total (tot) has a $2 billion deal with China's CNPC to develop Iran's South Pars gas field.

US President Donald Trump's decision to exit the Joint Comprehensive Plan of Action (JCPoA) and restore wide-reaching sanctions on Iran has closed the door for planemakers and lessors to do business with the country.

It was created to prevent Iran from obtaining a nuclear bomb.

The U.S. move also creates a more unpredictable environment in the Middle East, in which Iran could choose to lash out against U.S. interests more openly or keep chipping away at them and extending its regional influence.

"This is going to have a profoundly negative impact on the willingness of the Europeans to work with us in the way that they have been for a very long time". "That's why Iran came to the table".

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