The Treasury Department will revoke the licenses that Boeing and Airbus obtained in order to sell jets to Iranian carriers following President Trump’s decision to pull out of the Iran nuclear deal, the agency confirmed on Tuesday.
The authorization under which the companies were granted the license will be removed over the next 90 days as part of the larger termination of the Iran agreement, Treasury said.
Boeing agreed in 2016 to sell 80 aircraft to Iran Air for $17 billion. The Chicago-based company also agreed to sell Iran Aseman Airlines 30 single-aisle 737s in a deal worth $3 billion.
The company declined to comment on the report. No planes have been delivered, the company’s chief executive officer recently told investors.
Airbus, Boeing’s largest rival, has shipped Iran Air three of the 46 single-aisle planes and 54 wide-body jets agreed to in a $19 billion deal.
A spokesman did not immediately respond to request for comment. The European manufacturer previously declined to provide guidance on the schedule for future deliveries.
