The Iranian Government has signalled its intention to sue Boeing (BOE, Washington National) for its decision to terminate several pending contracts with Iranian carriers that include IranAir (IR, Tehran Mehrabad) and Iran Aseman Airlines (EP, Tehran Mehrabad). The move came after the Trump administration cancelled export licences granted to both Airbus (AIB, Toulouse Blagnac) and Boeing as part of its decision to withdraw from the JCPOA P5+1 nuclear accords.

According to Press TV, Iranian MP and a member of the country's economic commission, Taqi Kabiri, said on Friday, June 8 that Tehran would pursue the cancellation of the Boeing agreement through international legal and judicial tribunals.

"From the very beginning,، we should have gotten a strong guarantee from the aircraft manufacturer so that they would not be able to easily violate their contracts," he said adding that US President Donald Trump's warning of the "highest level of economic sanction" would not dampen the regime's resolve.

"Nevertheless, such actions will have no effect on our determination and they [the US] cannot harm us in this way," he said.

US Treasury Secretary Steven Mnuchin has since ordered the sales of commercial aircraft to Iran to cease by August 6, 2018, or risk the wrath of US secondary sanctions. In that time, European leaders have pleaded for Airbus to be exempted given the heavy losses the manufacturer stands to incur as a result of the cancellation of its booked 100-aircraft order with Iran Air.

"We specifically request you to grant exemptions from US sanctions for EU companies that initiated or concluded their contracts after JCPOA Implementation Day (January 16, 2016) (and to) give public confirmation of areas of business that are exempt from US secondary sanctions, such as pharmaceuticals, healthcare; and grant exemptions to allow for economic relationships in key sectors, in particular in the fields of energy, automotive, civil aviation and infrastructure," a June 4 letter to Mnuchin and Secretary of State Mike Pompeo and signed by Ministers from the United Kingdom, France, Germany, and the European Union said. The letter was published by The New York Times.

For her part, Iran Air CEO Farzaneh Sharafbafi has said she expects to add eleven new Airbus and ATR - Avions de Transport Régional aircraft ahead of August's impending transaction deadline.