Boeing and Airbus face massive lost revenue
US president Donald Trump has “made America great again” by costing the Boeing Aircraft Co $20bn in lost revenue thanks to the USA pulling out of the Iran Deal.
The Seattle based air framer had orders for more than 110 aircraft, including 50 B737 and 30 B777, for Iran Airlines and Aseman Airlines which it now confirms it cannot fulfil due to the Trump reinstating sanctions on Iran. The order secured more 100,000 jobs which could now potentially be at risk.
The US is the only country to have pulled out of a deal designed to stop Iran building a nuclear weapons programme and has received worldwide condemnation as a result.
European Air-framer Airbus also has orders for 100 aircraft from Iran Airlines and the situation there is more complex. France, Germany and the UK are are still committed to the Iran deal but parts of the Airbus aircraft range are made in the US and as such could not be sold to Iran and if Airbus does, it could face penalties from Washington.
Airbus has already delivered 2 Airbus A330 and 1 A321 to Iran last year. It also has an order from Tehran based Zagros Airlines for 28 aircraft.
The contracts for both Boeing and Airbus were amongst the biggest ever signed by a foreign airline and Trumps actions could be big news for Russia as Moscow headquartered Sukhoi could pick up the orders for around 400 aircraft if Airbus follows Boeing.
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