| Code: 77771 |

TIN news:  Managing Director of Iran Air Farhad Parvaresh said the country plans to spend $5 billion on aircraft purchases in a bid to renew its aging air fleet.
Iran needs to buy at least 20 regional jets to renovate its fleet now that anti-Tehran sanctions are gone, Parvaresh told Bloomberg on Sunday on the sidelines of an aviation conference in Tehran.
In all, Iran plans to spend $5 billion on aircraft, he added.
Earlier, Iran’s Deputy Transport Minister Asghar Fakhrieh Kashan said the country is also in talks with Mitsubishi's MRJ and Canada's Bombardier CSeries to buy regional aircraft.
The 1st edition of Iran Aviation Summit started work on Sunday here in Tehran with representatives of 85 companies, including the giant Airbus, in attendance.
The summit, which is held in cooperation with the Center for Asia-Pacific Aviation (CAPA), is attended by more than 160 representatives from 35 countries.
Such renowned companies as Lufthansa Technik, a leading provider of maintenance, repair and overhaul services for aircraft, engines and components, Canada’s aerospace and transportation company Bombardier Inc., and Brazil’s aerospace company Embraer have taken part in the two-day summit. 
The European Union and the United States declared last week that they have removed all sanctions they had imposed on Iran due to its nuclear energy program.

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