Forbes- Tehran has reached a deal with an international aircraft leasing company to finance the acquisition of 77 planes from Boeing and Airbus, according to local media reports.

Details of the deal remain opaque at this stage and it is not clear who it has been signed with or when it will come into force. However, it is likely to be just the first of several large contracts in the coming weeks and months.

Tehran has signed deals for 100 planes from Airbus, a further 80 from Boeing and 40 turboprops from French/Italian manufacturer ATR. Local airlines have also held discussions with Russia�s Sukhoi and Brazil�s Embraer. All of the deals need to be financed in some way.

Irish leasing companies appear to be in a strong position to get involved in any contracts being negotiated. Ireland is one of the world�s leading locations for aircraft leasing companies and, on February 11, the Civil Aviation Organization of Iran (CAOI) signed a cooperation agreement with the Irish Aviation Authority (IAA), covering aircraft leasing, flight supervision and maintenance and repair among other areas.