Boeing Co. Inks $3 Billion Deal For Thirty 737 Aircraft With Iran-Based Aseman Airlines

Written by StockNews.com

Aerospace giant Boeing Co. (NYSE: BA) early Tuesday announced it has signed a major deal with Iran-based Aseman Airlines to supply the carrier with 30 new 737 MAX aircraft.

The major deal marks the first of its kind for any U.S. company with an Islamic nation since President Trump took office in January. The pact also includes purchase rights for an additional 30 737 MAX airplanes for Aseman. Deliveries are expected to begin in 2022.

As Bloomberg reports, this is far from Boeing’s first deal with Iran:

The new agreement comes on top of the $16.6 billion sale Boeing previously made in Iran following the landmark nuclear deal struck with Tehran under the Obama administration. Trump long has criticized the atomic deal, though he toured a Boeing plant in February and touted the firm’s work as proof of a coming American manufacturing renaissance.

Boeing noted that the deal could create or sustain approximately 18,000 U.S. jobs, citing data from the U.S. Department of Commerce. The company also made sure to reiterate that it remains loyal to the wishes of the Trump administration. “Boeing continues to follow the lead of the U.S. government with regards to working with Iran’s airlines, and any and all contracts with Iran’s airlines are contingent upon U.S. government approval,” it said in a statement.

Aseman airlines, headquartered in the Iranian capital of Tehran, was established in 1980. The company runs both domestic and international flights, and counts about 38 current planes in its fleet.

...Year-to-date, BA has gained 14.45%, versus a 5.74% rise in the benchmark S&P 500 index during the same period.

BA currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 75 stocks in the Air/Defense Services category.