Iran Air, the Islamic Republic’s state carrier, has signed a memorandum of understanding with Boeing for narrow- and wide-body aircraft in the first transaction by the US planemaker since sanctions were lifted in January.
The purchase includes a mix of 737 and 777 models, Iran Air said in a statement on its website. The carrier will obtain the planes through a lease purchase, pending clearance from the US and Iran. In a separate statement, Boeing confirmed that an initial agreement had been reached, adding that “any and all contracts with Iran’s airlines will be contingent upon US government approval.”
The country intends to buy 100 jetliners from Boeing, Ali Abedzadeh, director of Iran’s Civil Aviation Organisation, said in a newspaper interview earlier this week. There were no details on the total figure in Tuesday’s statements.
The agreement follows a $27 billion order by Europe’s Airbus in January. The plane manufacturers are competing in one of the few remaining untapped jet markets as a weak global economy saps demand in other regions. Iran says it needs 400 long-range and 100 short-range jets and sees $50bn in aircraft investments after years of sanctions left its aging fleet in dire need of upgrading.
Iran Air, the country’s biggest carrier, currently serves 27 domestic and 29 international routes, needs the upgraded aircraft as it rolls out a 10-year plan aimed at moving from survival mode to expansion. The airline, whose aging fleet includes 747s and Fokker NV 100s, is planning to reinstate long-haul routes such as Tokyo and Seoul that were halted under sanctions once it gets the wide-bodies to make those flights.
Plane deals with Iran are not without risks. The companies must address sanctions that prohibit banks from dollar-based transactions with Iran. Boeing must additionally take into account a political backlash in the US, given Iranian leaders’ penchant for anti-American rhetoric.
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Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Specs
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The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
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Price: Dh380,000
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
MATCH INFO
Uefa Champions League semi-final, first leg
Tottenham v Ajax, Tuesday, 11pm (UAE).
Second leg
Ajax v Tottenham, Wednesday, May 8, 11pm
Games on BeIN Sports
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
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