Iran’s flag carrier Iran Air announced that it signed a memorandum of understanding (MOU) with Boeing to purchase new aircrafts.

Boeing is studying the passenger plane needs of Iranian airlines.

Boeing did not send any representatives to the Iran Aviation Summit 2016, to be held January 24-25, summit Secretary Ahmadreza Bayati said, Iran’s Tasnim news agency reported Jan. 24.

Iran is interested in buying over 100 aircraft from Boeing, deputy transport minister Asghar Fakhrieh Kashan told Reuters at Tehran's first major post-sanctions gathering of global business people.

The long-awaited P5+1-Iran nuclear deal is expected to create an economic boom in Iran’s aviation sector.

Boeing is reported to have gained as low as $27,000 worth of profit from selling aircraft parts to Iran since the Geneva interim deal was signed between the P5+1 group countries and the Islamic Republic in 2013.

Boeing’s official has said the U.S. aviation giant set its sights on the Iranian aviation market and expects a “very strong” demand in the country.

By Amina Nazarli Azerbaijan`s Silk Way Group will purchase three 747-8 Freighter airplanes as per the agreement the company signed with Boeing. The agreement was signed by President of Silk Way Group Zaur Akhundov and Vice-president of Boeing Commercial Airplanes Marty Bentrott. The contract was valued at more than $1.1 billion. Jahangir Asgarov, the president of Azerbaijan Airlines and Robert Cekuta, the U.S. Ambassador to Azerbaijan attended the signing ceremony. Vice-president of Middle East, Russia and Central Asia Sales, Boeing Commercial Airplanes, Marty Bentrott said Silk Way Group holds a special place among customers. He hailed Silk Way Group`s cooperation with Boeing. Bentrott expressed confidence that the agreement would be beneficial for both sides. Silk Way Airlines, the Azerbaijani cargo airline has its headquarters in Baku. The airline is the leader in the region in regular and charter cargo flights to more than 50 destinations. Silk Way West is included in Silk Way Holding, which combines a number of companies operating in the aviation industry and related services. It offers scheduled flights to destinations across Europe, the Middle East, and Asia. Its fleet consist of 3 Boeing 747-400F, two "747-8" aircraft and 2 Boeing B767-300F. It also cooperates closely with Silk Way Airlines and Azerbaijan Airlines, using cargo space on aircrafts IL-76 and AN-12 that belongs to Silk Way Airlines and bellies of passenger aircraft of Azerbaijan Airlines. -- Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli Follow us on Twitter @AzerNewsAz

Following the melting ice between the West and Iran over its nuclear program, the foreign companies have started to restore their ties with Tehran.

Iran has not imported any plane parts so far from the U.S. aircraft manufacturer Boeing despite the signed Memorandum of Understanding (MoU), Iranian MP, Jalil Sar Ghale says.