Aseman and Rolls-Royce have negotiated a deal where Aseman will purchase four new Tay-650 engines along with future access to spare parts. This purchase is significant because of the recent sanctions lifted against Iran’s aviation industry.
For decades Iran was denied access to spare parts due to US sanctions, leaving hundreds of aircraft in dire need of maintenance. Sanctions were lifted on January 16th 2016 in exchange for a limit on Iran’s nuclear programs. Since then, Iran has been emerging as a vast market for aviation parts. Aseman’s jet engine purchase is most likely a much-needed replacement for aging Fokker 100 aircraft.
The Tay-650 is an older iteration of the Tay series engines by Rolls-Royce. It was developed for the Fokker 100 aircraft—a medium sized passenger plane first put into service in 1986. Currently there are a total of 116 Fokker 100 aircraft remaining in service, with the majority in Australia and Iran.
As a result of the Tay-650 engines being manufactured by Rolls-Royce, there is less than 10% of components tied to US manufacturing. This allowed Iran to negotiate the deal without an Office of Foreign Assets Control (OFAC) license. Iran has applied for OFAC licenses to sell components that are greater than 10% in US manufacturing content.
Iran’s aviation industry will be exciting to follow in the coming years. With sanctions lifted the industry is expected to be worth billions to overseas suppliers. The Post-Sanctions Commercial Aviation Congress calls it a “once in a generation emerging market.” It certainly is looking that way, as Iran has already closed a deal financing 77 new aircraft. There is even speculation that Iran will soon look to purchase brand new Airbus, Boeing, and ATR aircraft's.
ASAP AM Spares has a dedicated and expansive array of Rolls-Royce jet parts—serving customers as a one-stop shop and primary destination for product sourcing. If you are interested in a quote, please contact our friendly sales staff at www.asap-amspares.com or call +1-702-919-1616.