Iran, Boeing complete $16.6B deal on jetliners

granted permission to Boeing and Toulouse, France-based Airbus to sell billions of dollars’ worth of aircraft to Iran. Airbus needed U.S. approval because at least 10 percent of its planes’ components are of American origin.

The U.S. and other world powers agreed last year to lift crippling sanctions on Iran in exchange for it curbing its nuclear activities. The U.S. maintains extensive sanctions on Iran for activities unrelated to its nuclear program.

President-elect Donald Trump and several Republican lawmakers have criticized the nuclear deal, but it’s unclear whether they would scrap the agreement, which was reached with Britain, France, Germany, Russia and China.

Iranian Transport Minister Abbas Akhoundi said it was a “historic” day for Iranian aviation and that the deal would create 8,000 jobs for Iranians.

“The deal has a clear message for the world: We support peace and security as well as the growth of Iran based on a win-win policy,” he was quoted as saying. “We hope that despite changes in the U.S. administration, the country will remain loyal to its commitments.”

The Republican-led House of Representatives last month voted to bar commercial aircraft sales to Iran in a move that could block the Boeing deal. That legislation must still pass the Senate, where it will likely face opposition from Democrats. U.S. President Barack Obama has said he will veto the bill if it reaches his desk before he leaves office in January.

Boeing made a point of saying it worked closely with the U.S. government throughout the dealmaking process and will continue to “follow all license requirements.” The Iran Air deal “will support tens of thousands of U.S. jobs” linked to the 777s alone, it said.

The plane maker said the deal value was based on list prices, though in practice customers typically negotiate discounts for bulk orders.

Most of Iran’s aging fleet of 250 commercial planes were purchased before 1979, and as of June only 162 were operational.

EPA Iran Air chief Farhad Parvaresh, left, and Boeing executive Fletcher Barkdull finalize a deal Sunday on 80 aircraft.