Boeing says it will follow US policy on Iran

Boeing said on 8 May it will continue to take its cue from US government policy on sales to Iran after President Donald Trump announced the US would withdraw from the Iran nuclear pact.

'Following today's announcement, we will consult with the US government on next steps,' said Gordon Johndroe, a VP of government operations communications.

'As we have throughout this process, we'll continue to follow the US government's lead.'

The statement was released by the aerospace giant shortly after Trump's remarks again lambasting the 2015 agreement as 'defective at its core.'

Boeing chief executive Dennis Muilenburg said last month the company has delayed deliveries of 777 planes to Iran amid the Trump administration's reconsideration of the nuclear deal.

After lengthy negotiations and tight oversight by the Obama administration, Boeing in December 2016 announced a landmark agreement to sell Iran Air 80 aircraft valued at $16.6 billion.

The aircraft had been expected to be delivered starting in late 2018.

However, Muilenburg said financial targets this year had not accounted for plane deliveries to Iran.

Boeing also had announced a contract in April 2017 to sell Iran Aseman Airlines 30 Boeing 737 MAX aircraft for $3 billion, with purchase rights for another 30 aircraft. Deliveries were to begin in 2022. Shares of Dow member dropped 0.8 percent to $337.72 in afternoon trading