ATR says signs 1b euro planes deal with Iran

European manufacturer of turboprop aircraft ATR said Monday it had signed a one-billion-euro deal with Iran Air for up to 40 planes after the dropping of US sanctions against Iran.

Under the accord inked in Tehran, ATR is to provide the Iranian national flag carrier with 20 ATR 72-600 planes, with options on another 20 planes.

It follows talks in Rome and Paris last week during a visit by Iranian President Hassan Rouhani following the lifting of sanctions over the Islamic Republic's nuclear programme.

"The deal marks the arrival of the newest generation ATRs in Iran, where the first aircraft have been operating since 1992.