Iran Buying 100 Jets From Boeing

(RTTNews) - Iran has reportedly reached a new deal with US aerospace giant Boeing (BA) to buy 100 planes as the Asian country seeks to renew its aged passenger planes.

However, the deal still requires approval from the US federal authorities. Meanwhile, Boeing has been granted permission to present its products to IranAir and other few airlines. The deal is reported to be worth $17 billion.

This deal makes Boeing the first major American company to make a deal with Iran after the nuclear sanctions were lifted earlier this year. Earlier this year, Europe's Airbus had won a provisional for 118 jets worth $27 billion.