(CNN) Iran will need hundreds of new aircraft as it rejoins global aviation networks, a move that could include direct flights to the U.S. for the first time in 36 years.
Years of sanctions have left Iran's airlines with outdated and unsafe aircraft. With those restrictions now lifted, Iran is looking to spend heavily with Boeing (BA) and Airbus (EADSF), Iranian transport minister Abbas Akhondi told CNN.
"We think [we need] about 100 short range fleet for our local flights. And for international flights about 400 fleet, who can do the middle and long range flights," Akhondi told CNN at an aviation conference. "Iran will compete in 5 to 7 years with all the major regional airlines."
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