Chinese finance for aircraft purchase

Chinese finance for aircraft purchase
ID : N-1460 Date : 2018/03/13 - 10:13

(Persia Digest) - After months of negotiations, a Chinese company agreed to fund the purchase of Iran Airs’ airliners.

According to the Ministry of Roads and Urban Development of Iran, Iran Air and a Chinese company signed an MoU to enable the company to finance the purchase of Iran Airs’ airliners.

Agreements reached the final stage at a time when about one and a half years after the purchase of Airbus and Boeing aircrafts, obstacles placed along the way by the United States and international banks fearing to enter the Iranian market had made it impossible to finalize the financing.

Iran Air was forced to buy three new aircrafts delivered to them by Airbus in cash in order to implement its contract with the company. It was due that with the finalization of the finance, Iran Air’s payment would be considered as a pre-payment for other aircrafts.

According to the plan, 85 percent of the cost of the aircrafts bought by Iran will be in the form of finance and 15 percent will be paid in cash.

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