The Iran Aviation Summit in Tehran is the first major international aviation event to be held in Iran in almost 40 years. The relaxation of international sanctions on the country and its apparent plan to regain its place in the airline industry mean boom times for aerospace suppliers. The event might reveal more details of Iran's shopping list.
The relaxation of the sanctions will create a bonanza across the industry as the country must replace airport facilities as well as planes. French wire service AFP reports that a civil aviation official said Iran planned to buy 80 to 90 Airbus and Boeing airliners annually until it has 300 to replace its ageing fleet.
Iran has signalled its intention to rebuild its airline industry The aerospace giants, Boeing and Airbus, are reported to have been negotiating with the Iranians well ahead of sanctions relief, and they are not alone.
The summit organizer, CAPA Center for Aviation, a market analysis and data entity, writes that the event will bring together Iranian authorities and aviation operators, international experts and suppliers from around the world "to discuss the direction of the industry in a post-sanctions environment." According to CAPA, Iran's civil aviation sector and tourism industry are set for significant modernization and expansion with the expected lifting of sanctions in coming months, following the signing of the historic Joint Comprehensive Plan of Action (JCPOA) in Jul 2015.
The sanctions relief results from the signing of the JCPOA in Jul 2015, when Iran and leading world powers reached an agreement aimed at limiting Iran's nuclear programme in exchange for relief from international sanctions.
Date written/update: 2015-11-17