Boeing strikes $16bn deal with Iran for 80 planes

US planemaker Boeing has reached an agreement with Iranian state airline Iran Air for the purchase of 80 aircraft, for the sum of $16bn.

The deal will span the next 10 years and includes 50 of the company's 737 MAX 8 planes, and represents the largest deal between Iran and a US company since the 1970s.

The first planes are scheduled to be delivered to the country in 2018, and according to a statement released by Boeing, the deal has already received a rubber stamp from the US government.

"Boeing coordinated closely with the U.S. Government throughout the process leading up to the sale and continues to follow all license requirements as it moves forward to implement the sales agreement," the statement read.

Iran Air hopes the deal will allow the state aircraft provider with a much-needed modernisation of its ageing commercial fleet, and Boeing believe it will be helpful in keeping jobs in the US.

"Today's agreement will support tens of thousands of US jobs directly associated with production and delivery of the 777-300ERs, and nearly 100,000 US jobs in the US aerospace value stream for the full course of deliveries," Boeing said.

In 2015, the US and its allies agreed to lift sanctions on Iran in exchange for proof of the cessation of its nuclear programme, but the deal has faced criticism from many on the Republican side of Congress, as well as president-elect Donald Trump.