Iran will start the final round of negotiations with planemaker ATR in Tehran on Wednesday and a deal is expected to be signed next week, Deputy Transport Minister Asghar Fakhrieh Kashan said on Sunday.

“As per previous talks with ATR, buying 20 airplanes from the company, which is a subsidiary of Airbus, has been finalized, but Iran Air – Iran’s flag carrier – is allowed to buy 20 more airplanes from the company,” IRNA quoted him as saying.

As the official explained, Iran Air will buy a 320 Airbus aircraft, two 330 ones, and five ATR airplanes by the end of current Iranian calendar year (March 20, 2017).

Addressing the financing issues, Fakhrieh Kashan said that Iran Air will supply 15 percent of the required fund for purchasing the aircrafts and the rest will be secured via foreign finance.

Iran Air and Airbus signed a firm contract for 100 aircrafts, building on an initial commitment signed in January 2016 in Paris. The agreement signed by Farhad Parvaresh, Iran Air Chairman and CEO, and Fabrice Bregier, Airbus President and CEO, covers 46 A320 Family, 38 A330 Family and 16 A350 XWB aircrafts.

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