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Publish Date : 25-Jan-2016

Iran is planning to purchase 114 Airbus planes to regenerate its ageing fleet, in the first major commercial agreement declared since the lifting of sanctions under its nuclear deal.

The agreement on the purchase is expected to be inked between national carrier Iran Air and Airbus during a visit to Paris this week by President Hassan Rouhani.

Rouhani would be visiting to Italy and France from Monday to Wednesday, on his first arrival to Europe since the execution of the agreement checking Tehrans nuclear activities in exchange for the lifting of punishing economic sanctions.

Rouhani has acclaimed the deal as a new chapter for Iran as its economy returns to global markets.

We have been negotiating for 10 months for the purchase of planes but there was no way to pay for them because of banking sanctions, Iranian state media quoted Akhoundi as saying.

We need 400 long- and mid-range and 100 short-range planes, he said.

Its a really exciting time, theres never been a situation like this, said Peter Harbison, the head of the CAPA consultancy which organized the conference.

A whole array of different aviation services and new jobs obviously are going to be created, Harbison. Aviation is one of those industries that creates massive economic flow-on benefits, so tourism will expand, so youll need more infrastructure growth in hotels and right across the board.

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