- Leading aircraft manufacturers obtain U.S. government authorization to sell planes to Iran.
- Issuance of authorizations is notable but may be hard to duplicate in other industries.
- Even if authorized, companies face practical challenges if pursuing business in Iran.
Boeing and Airbus have overcome another hurdle to tapping into the Iranian market. According to news reports, on September 21, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) issued licenses to both companies to sell aircraft into Iran. Boeing's license is said to authorize the sale of 80 planes; Airbus reportedly has been permitted to export 17 aircraft as part of a larger plan to sell 118 aircraft to Iran. (Although Airbus is a non-U.S. company, to the extent its aircraft contain more than a de minimis amount of U.S.-origin equipment, Airbus would need a specific authorization from OFAC.)
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