ATR

Aerospace
France
ATR

"Regional aircraft manufacturer ATR says it must give up delivering the remaining aircraft ordered by Iran because of new US sanctions and that it will try to reclassify 12 aircraft if it does not obtain a waiver." (June 27, 2018).

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European plane maker ATR is delivering small passenger jets to Iran, the latest big-budget deal to emerge in the wake of Iran’s 2015 nuclear accord with world powers that ended years of sanctions. The first four ATR 72-600s were handed over to Iran Air in a ceremony Tuesday in Toulouse in southern France, where ATR is based.

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"European airplane manufacturer ATR said Thursday it sealed a $536-million sale with Iran Air for at least 20 aircraft, the latest aviation firm to strike a deal following Iran's nuclear accord with world powers. ATR spokesman David Vargas confirmed the finalized deal for the 20 ATR 72-600s, a twin-propeller aircraft, and said Iran Air had an option to purchase another 20. "They will definitely help Iran Air to modernize and develop regional connectivity across the country," Vargas told The Associated Press. Home to 80 million people, Iran represents one of the last untapped aviation markets in the world. However, Western analysts are skeptical that there is demand for so many jets or available financing for deals worth billions of dollars. Vargas declined to offer a value for the deal with Iran Air. The confirmed portion of the deal is worth $536 million at list prices, though buyers typically negotiate discounts on bulk orders. Iranian state TV described the deal as being worth about $400 million." (Associated Press, "Airplane Maker ATR Signs $536M, 20-Aircraft Deal With Iran," 4/12/17).

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"IranAir has finalised a deal to buy 20 turboprop aircraft from Franco-Italian ATR, the minister overseeing Iran's post-sanctions fleet renewal was quoted on Wednesday as saying... Such a deal would be worth 540 million euros ($571 million)at list prices. ATR, co-owned by Airbus and Italy's Leonardo, declined to comment. The company's chief executive told Reuters last month it had completed commercial negotiations with IranAir and expected to be able to sign a contract very soon... IranAir and ATR have spent months negotiating a firm order for 20 ATR 72-600 aircraft, with options for another 20. But officials said last month a final deal has been held up due to uncertainty over some export licences for spare engines made by a Canadian subsidiary of Pratt & Whitney. The engine maker has said it is working closely with ATR to ensure all necessary approvals are in place." (Reuters, "IranAir Finalises Deal to Buy 20 ATR Planes," 2/15/2017).

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"Turboprop maker ATR has completed commercial negotiations with IranAir for the sale of at least 20 aircraft and expects to be able to sign a contract very soon, the head of the Franco-Italian aircraft maker said on Friday... "We have concluded the negotiations and we should sign the contract imminently," ATR Chief Executive Christian Scherer said. Scherer was responding to some Iranian media reports on Friday that ATR had already announced the signature of the keenly awaited deal... IranAir and ATR have spent months negotiating a firm order for 20 ATR 72-600 aircraft worth 540 million euros ($576 million) at list prices, with options for another 20." (Reuters, "ATR Says Aircraft deals with Iran Imminent," 1/20/2017).

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"The head of IranAir took delivery on Wednesday of the first new Western jet under an international sanctions deal... The 189-seat plane is the first of 100 ordered from Airbus following a deal reached in 2015 between Tehran and world powers to lift nuclear-related sanctions against Iran, in return for restrictions on the country's nuclear activities... The airline has also ordered 80 aircraft from Boeing and is expected to seal an order for 20 turboprops from Europe's ATR." (Reuters, "IranAir Takes delivery of First Airbus Jet Post-Sanctions," 1/11/2017).

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"Iran and European planemaker ATR are due to sign a deal next week for the purchase of 20 short-haul passenger aircraft, an Iranian official said on Saturday, weeks after Tehran finalised deals with Boeing and Airbus. ATR, co-owned by Airbus and Italy's Leonardo Finmeccanica, in February reported preliminary orders from Iran for 20 twin-engine turboprop ATR 72-600 aircraft... [the official] added that the contract for 20 planes was worth $400 million." (Reuters, "Iran and European Planemaker ATR to Sign Contract Next Week," 12/31/2016).

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"Franco-Italian turboprop maker ATR is putting together to a mix of banks and lessors to help finance the euro-denominated sale of 40 of its planes to Iran, the plane maker’s Chief Executive Patrick de Castelbajac said. The company hopes to deliver the first of its regional planes by the end of the year." (The Wall Street Journal, “Iran Faces Financial Hurdles for Airbus Orders,” 6/1/2016)

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"Iran is continuing its aircraft-buying spree days after announcing a blockbuster, $27 billion order for 118 Airbus Group SE jetliners. ATR, the plane-making joint venture of Airbus and Italy’s Finmeccanica SpA, said on Monday that it would sell up to 40 turboprop planes to the Islamic Republic’s flag carrier Iran Air. The deal is valued at around 1 billion euros ($1.1 billion) at list price, the Toulouse-based plane maker said. The deal includes the purchase of 20 ATR 72 turboprop planes with options for 20 more... Iranian transport minister Abbas Akhoundi said last week that many of the country’s airports were largely idle because of a lack of planes after years of sanctions. Iran is seeking foreign investment to upgrade regional airports, which would likely be the main bases where the ATR planes would operate, the minister said. Patrick de Castelbajac, chief executive of Avions de Transport Regional, as ATR is formally called, said ''we are honored to take part in this new era in Iran by providing the national airline with aircraft that will strongly contribute to reinforce and boost regional transportation across the country.' French and Italian export credit agencies are assisting in financing of the planes." (The Wall Street Journal, “Iran to Buy up to 40 ATR Turboprop Planes,” 2/1/2016)

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On February 1, 2016, ATR announced that it had signed a €1.0 billion Euro deal with the Iranian flag carrier airline, Iran Air, for “40 newest generation ATR 72-600s.”  (Airbus Group Website, “40 newest generation ATR 72-600s,” 1/2/2016).