Iran signs contract to buy 80 Boeing planes

Iran Air said yesterday it had finalised a contract to buy 80 planes from US firm Boeing, the official IRNA news agency reported. Boeing said the contract -- Iran's first deal with a US aviation firm since the 1979 Islamic revolution -- was worth $16.6 billion. "Fifty of the planes are 737 and the other 30 are the long haul 777 that will be delivered to Iran Air in a period of 10 years," said Farhad Parvaresh, chief executive of the national carrier.