Boeing (BOE, Washington National) has confirmed it sold Iran aircraft-related documents in the US manufacturer's first official dealings with the Iranian carrier since the 1979 Iran hostage crisis. The transaction was made possible by the US Office of Foreign Assets Control (OFAC) which granted Boeing a licence in line with the terms of an interim nuclear deal between Iran and the Group 5+1 (the US, Russia, China, France and Britain plus Germany) signed in Geneva late last year.
According to Boeing's third quarter SEC filing, the transaction with IranAir (IR, Tehran Mehrabad) consisted of aircraft manuals, drawings, and navigation charts and data.
"During the third quarter of 2014, we sold aircraft manuals, drawings, and navigation charts and data to Iran Air. We generated approximately USD120'000 in gross revenues and USD12'000 net profits during the third quarter from these sales," it said.
Boeing said it may pursue additional deals with the Iranians though this is contingent on it securing legal confirmation in terms of the Iran Threat Reduction and Syria Human Rights Act of 2012 and Section 13(r) of the Securities Exchange Act of 1934, that require disclosure of certain activities, transactions or dealings relating to Iran, to be made.
The US Treasury had also approved Boeing and engine manufacturer, General Electric (GE), to supply the Iranians with spare parts. GE was approved to service 18 engines sold to Iran in the late 1970s.
In August, Tehran lambasted Boeing for quoting it prices that were three times those of current market prices. In the absence of a climbdown, the Iranian government had threatened to resume using the international black market where it is able to source most of its spares requirements, despite sanctions.
