Any potential thaw in U.S.-Iran relations is unlikely to relax long-standing economic sanctions that have hobbled the latter’s commercial and defense aviation sectors for decades. Most recently, United Nations’ Resolution 1696, in force since 2006 and in response to Iran’s nuclear ambitions, has limited Iran’s ability to obtain approved spare and replacement aircraft components and to conduct international financial transactions.
Economy of Asia
Here at the Paris Air Show yesterday Robert Martin, managing director and CEO of Singapore-based BOC Aviation, a subsidiary of the Bank of China, shook hands with CFM International executive v-p Chaker Chahrour on a deal for CFM’s LEAP 1A engine to power 10 A320neos–the lessor’s first neo order. BOC also ordered CFM56-5B powerplants for 10 A320ceo aircraft, the total value of the commitments amounting to $460 million at list prices. Martin said at the signing ceremony at CFM’s stand (Hall 2a B252) that the lessor would add 50 aircraft to its fleet this year.