Boeing and GE warily eye up Iran Air

While they continue to grapple with the tough economic climate, Iranians who can still afford to travel by air will at least be heartened by the US treasury department’s decision to allow Boeing to sell spare aircraft parts to Iran, and for General Electric (GE) to overhaul old jet engines. But even this apparently simple gesture is complex and shrouded in some mystery.For a start, the waiver only covers equipment sold to Iran before the 1979 revolution. In most countries, these planes and engines would have been retired long ago, but Iran has not been able to buy enough replacements so the need for repairs and spare parts remains.