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Boeing to consult with US on 'next steps' after Trump's Iran move

Boeing to consult with US on 'next steps' after Trump's Iran move

The U.S. withdrawal from the Iran nuclear deal is now a fact and the market has reacted as expected, namely with a knee-jerk reaction that saw Brent and WTI both jump by over 2 percent a day after President Trump made his announcement and continue climbing up. Since Boeing has a large order backlog of jets, particularly for the 737 aircraft models which constitutes the bulk of Iranian deals, it will not have much impact on Boeing financials.

Iran had ordered 200 passengers planes: 100 from Airbus, 80 from Boeing and 20 from French-Italian turboprop maker ATR. "Under the original deal, there were waivers for commercial aircraft, parts and services and the existing licenses will be revoked". The plane orders were sorely needed to overhaul Iran's outdated fleet, after a series of air accidents that called into question the safety of its airlines' operations.

France's foreign minister on Thursday condemned the United States for reimposing sanctions against foreign companies trading with Iran, labeling the move "unacceptable" in comments that expose the deepening rift between Washington and its European allies on the issue.

"The holy system of the Islamic Republic will step up its missile capabilities day by day so that Israel, this occupying regime, will become sleepless and the nightmare will constantly haunt it that if it does anything foolish, we will raze Tel Aviv and Haifa to the ground", he said, according to state television.

The US planemaker, cognisant of the risk of a deal snap-back, did not record the Iranian jets on its backlog.

Airbus, Siemens, Total, PSA and Fincantieri were among the multinationals launching investments in Iran, although the Islamic Republic's problems with financing its wish list kept a lid on enthusiasm. "As we have throughout this process, we'll continue to follow the USA government's lead", the company said. "I can tell you with confidence that we have continued to build risk mitigation into our 777 production plan".

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Prior to serving as the County Executive, he was elected to the Baltimore County council where he served for 16 years. On Twitter, Hogan wrote, "the First Lady and I are shocked and grieved by the sudden passing of [Kamenetz]".

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The following year, Deutsche Bank paid $258 million in U.S. fines for doing business with Iran and Syria pursuing, according to United States regulators, a "lucrative" USA dollar business for sanctioned customers.

"The opportunity to do business for us is. not there anymore", Firoz Tarapore, chief executive of Dubai Aerospace Enterprise, told CNBC.

At the same time, the government said it has tasked the president of the Atomic Energy Organization of Iran with "taking all necessary steps in preparation for Iran to pursue industrial-scale enrichment without any restrictions".

Iran said it needs between 400 and 500 planes to renew its fleet, the planes of which have an average age of about 20 years.

"That's something we'll consider on a case-by-case basis, but as an overview, I would say that the goal is to broadly enforce the sanctions", he said, adding the administration's objective was to deny Iran access to the USA financial system.

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