The United States moved closer to renewing trade ties with Iran following Boeing’s (NYSE: BA) announcement that it plan to sell aircraft components to the Islamic republic’s flag carrier, the Wall Street Journal reported Thursday.
Benoit Faucon writes the contractor has agreed to produce spare parts and related safety equipment for Iran Air’s airplane fleet.
Discussions on a possible sale are ongoing between the two companies, according to the report, citing a filing with the Securities and Exchange Commission in midweek.
WSJ indicated that the aircraft parts, should the deal follow through, will become the first American products to sell in Iran since diplomatic relations broke down in 1979.
