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Offbeat Boeing could lose $20 billion in deals as Iran pact collapses

23:06  08 may  2018
23:06  08 may  2018 Source:   cnbc.com

AP FACT CHECK: Trump's oft-told tale of US payout to Iran

  AP FACT CHECK: Trump's oft-told tale of US payout to Iran President Donald Trump likes to tell a story about the U.S. paying out billions of dollars to Iran as part of the multinational deal freezing its nuclear program and easing sanctions against it. What he doesn't say is that most of that money was Iran's to begin with. The rest relates to an old debt the U.S. had with Iran.The numbers and some details change in his retelling — dating back to the 2016 campaign — but his bottom line is always the same: The Obama administration was hoodwinked into giving Iran all that money, some of it in a huge and hidden bundle of cash.

Boeing may lose $ 20 B in aircraft deals after Trump pulls out of Iran pact . The world's largest aerospace company has agreements to supply Iranian airlines with planes worth roughly $ 20 billion , based on list prices.

Boeing may lose $ 20 B in aircraft deals after Trump pulls out of Iran pact . The world's largest aerospace company has agreements to supply Iranian airlines with planes worth roughly $ 20 billion , based on list prices.

President Donald Trump announced Tuesday he will withdraw the U.S. from a nuclear pact with Iran , a move that threatens Boeing's multibillion-dollar deals to help restock the aging Iranian commercial air fleet. 

The world's largest aerospace company has agreements to supply Iranian airlines with planes worth roughly $20 billion, based on list prices. The number of aircraft in the agreements is tiny compared with Boeing's total order book, however. Boeing ended the first quarter of this year with a production backlog of more than 5,800 airplanes, including more than 4,600 orders for 737s.

Shares of Boeing were down 0.3 percent in afternoon trading.

IAEA declines to directly address Netanyahu's Iran accusations

  IAEA declines to directly address Netanyahu's Iran accusations The U.N. atomic watchdog declined to directly address the Israeli leader's accusations that Iran was breaching its landmark nuclear deal.Netanyahu on Monday stepped up pressure on the United States to pull out of the 2015 deal, presenting what he called evidence of a secret Iranian nuclear weapons program. Iran is known to have had a weapons program until 2003; analysts and diplomats said he appeared to be recycling old accusations.

Boeing may lose $ 20 B in aircraft deals after Trump pulls out of Iran pact . The world's largest aerospace company has agreements to supply Iranian airlines with planes worth roughly $ 20 billion , based on list prices.

President Donald Trump announced Tuesday he will withdraw the U.S. from a nuclear pact with Iran , a move that threatens Boeing 's multibillion dollar deals to help restock Iran 's aging commercial air fleet. The world's largest aerospace company has agreements to sell planes worth roughly $ 20 billion to

Boeing announced the largest of these deals in December 2016: 80 jets for Iran Air – including 50 of the 737 MAX 8 model. In April 2017, Iran Aseman Airlines signed an agreement to purchase 30 Boeing 737 MAX planes, with an option to buy 30 more. Both deals came after the nuclear pact that was signed in 2015.

a screenshot of a cell phone © Provided by CNBC

Boeing has said that it continues "to follow the U.S. government's lead" on selling planes to Iranian companies.

In 2016, when it announced the Iran Air deal, Boeing said such an order would support 100,000 U.S. jobs.

If the aircraft agreements are scrapped outright, it won't likely have a big impact on Boeing because of the company's large backlog of jets, particularly for narrowbody 737 aircraft, said Richard Aboulafia, vice president at Teal Group.

"Would have been nice to get but far from a major impact," Aboulafia said.

On orders for the widebody 777, for which it had more than 400 orders at the end of March, Boeing CEO Dennis Muilenburg last month said on an earnings call that its production rate for that plane "we've put in place is not dependent on the Iranian orders."


FACT CHECK: Has Iran’s Military Budget Grown 40% Since The Nuclear Deal? .
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