Boeing to lose $20B as Trump withdraws from Iran pact: report

Boeing to lose $20B as Trump withdraws from Iran pact: report
© Getty

Boeing will reportedly lose billions of dollars in deals with Iranian airline companies after President TrumpDonald TrumpUN meeting with US, France canceled over scheduling issue Trump sues NYT, Mary Trump over story on tax history McConnell, Shelby offer government funding bill without debt ceiling MORE announced that the U.S. will be withdrawing from the Iran nuclear deal.

Boeing is losing a $17 billion contract to deliver 80 aircraft to Iran Air, according to The Washington Post, which added that deliveries were expected to be completed by 2025.

That is in addition to another 30-airplane agreement between Boeing and Iran’s Aseman Airlines for $3 billion, the newspaper said. 

ADVERTISEMENT

“We will consult with the U.S. Government on next steps. As we have throughout this process, we’ll continue to follow the U.S. Government’s lead,” Boeing Vice President Gordon Johndroe said in a statement, according to the Post. 

Trump announced Tuesday that sanctions will be reimposed on Iran as the U.S. pulls out of the international pact intended to keep Iran from obtaining nuclear weapons. 

Treasury Secretary Steven MnuchinSteven MnuchinMenendez, Rubio ask Yellen to probe meatpacker JBS The Hill's Morning Report - Presented by Goldman Sachs - Biden rallies Senate Dems behind mammoth spending plan Mnuchin dodges CNBC questions on whether Trump lying over election MORE said the Trump administration is also canceling waivers for the sale of commercial aircraft parts, the Post noted.

“These sanctions do impact all of the major industries,” Mnuchin said. “These are very, very strong sanctions; they worked last time. That’s why Iran came to the table.”