Boeing (BA), GE Get U.S. License to Supply Spare Parts to Iran

By Apr 5, 2014, 9:28 AM Author's Blog  

Boeing (BA), GE Get U.S. License to Supply Spare Parts to Iran

Reuters reports that airplane manufacturer Boeing Company (BA) and engine maker General Electric (GE) said on Friday they had been granted licenses from the U.S. Treasury Department to export certain spare parts for commercial aircraft to Iran “for safety of flight purposes”, as part of sanctions relief agreement reached in January.

Boeing did not release an official statement regarding the news, but according to a Boeing official quoted by Reuters, Boeing would now contact Iranian officials to determine which parts were needed.

The report also said that GE spokesman Rick Kennedy had confirmed the company’s application approval from the Treasury Department to service 18 engines sold to Iran in the late 1970.

Furthermore, the report adds that the license covered “only components needed to ensure continued safe flight operations of older Boeing planes sold to Iran before the 1979 revolution and did not allow discussions about sales of new aircraft to Iran.”

“It’s very limited,” the GE spokesman was quoted as saying.

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