- President Donald Trump pulled the US out of the the Joint Comprehensive Plan of Action, better known as the Iran nuclear deal on Tuesday.
- Treasury Secretary Steven Mnuchin said the move means that Boeing and Airbus will lose Iranian contracts.
- The two aircraft makers signed contracts worth $39 billion with Iranian airlines in 2016.
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Boeing and Airbus will miss out on a combined $39 billion payday because of Trump's Iran deal decision
Boeing and Airbus will have $39 billion worth of Iranian contracts "revoked" after President Donald Trump's decision to leave the Iran nuclear deal and reimpose sanctions.
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President Donald Trump's decision to remove the US from the Joint Comprehensive Plan of Action, better known as the Iran nuclear deal, rocked the geopolitical landscape.
The decision also carries significant ramifications for the US economy and some of the world's largest manufacturers. In particular, aircraft makers Boeing and Airbus will miss out on a major financial opportunity because of the decision.
In 2016, two companies signed deals worth a combined $39 billion with various Iranian airlines to help update the country's aging fleet.
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Treasury Secretary Steven Mnuchin told reporters Wednesday that the Boeing and Airbus deals "
Airbus will bear the most immediate hit since the company already began delivering aircraft to Iran. The manufacturer signed a $19 billion deal with Iran Air for 100 planes in late 2016.
While Airbus is a Europe-based firm, the company is still subject to the Iranian sanctions, since more than 10% of their parts are made in the US. The company was cautious in a statement on Wednesday.
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While Boeing did not begin deliveries to Iran, the US aircraft maker is also set to miss out on a considerable opportunity.
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Boeing signed two deals with Iranian carriers: a $17 billion contract with Iran Air and another $3 billion deal with
In a statement, Boeing said that the company would "consult" with the US government on how to move forward.
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