IRNA � Contract with Airbus for purchase of 100 passenger planes has been finalized, Managing director of Iran�s flag carrier, Iran Air, Farhad Parvaresh said on Sunday.

Parvaresh said that based on the plans made, Airbuss will deliver seven or eight planes by 2017.

Talking to reporters on the sidelines of the First International Exhibition of Road Construction and Maintenance, Transportation and Related Industries, Parvaresh said in the meantime that ATR plane manufacturing company is scheduled to deliver eight planes to Iran Air as per the contract already signed.

He said that the contract had been signed for purchase of 80 planes from Boeing company.

'Though the contract was signed last week, Boeing will deliver its first plane to Iran Air in April 2018.'

'The Airbus representatives are present in Iran since last week to finalize the context of the contract.'

The nominal value of the contract for purchase of 118 planes from Airbus is 25 billion dollars, but, the Airbus proposal to sell 380-seat planes has been cancelled so that the value of the contract with Iran Air will not exceed more than 10 billion dollars.