Azerbaijan, Baku, Aug. 17 / Trend /
Iran Air will be sold to the private sector at the price of $1.5 billion in the next two months, Fars News Agency reported Managing Director of Iran Air Farhad Parvaresh as saying.
"The company is expected to be sold to the private sector in two months, but the customer has not been identified yet," he said.
The Iranian Privatization Organization earlier issued an advertisement to sell 55 percent of Iran Air and intends to sell the airline's shares to strategic customers, ISNA reported.
Currently, 70 percent of the company's shares belongs to Islamic Republic aviation and 30 percent to equity shares, but by selling 55 percent, 15 percent shares remain without specific owner.
Iran Air inventory is estimated at $3.5 billion while the base value of each share is $75. So, total shares of $1.7 billion will be sold to customers.
Iran has no access to purchase plane's spare parts and advanced aviation technology because of U.S. sanctions and is not able to buy US-built planes or any air planes that US has part in their production and even purchasing indirectly will causes problems.
Iran 's air lines recently purchased aircrafts made in Russia and other post-soviet countries. Currently, Iran planes have limited access to European countries.