Boeing CEO Downplays Impact of Trump Canceling Iran Licenses
(Bloomberg) -- Boeing Co. Chief Executive Officer Dennis Muilenburg downplayed the loss of jetliner sales to Iranian air carriers caused by President Donald Trump’s decision to withdraw from the Iran nuclear deal.
Muilenburg said Wednesday that his company had not committed production slots for the Iranian orders of Boeing’s 777 widebody and 737 MAX jetliners and would continue to “follow the U.S. government’s lead” when it comes to Iran.
Shares rose as Muilenburg spoke during a luncheon event put on by the Economic Club of Washington, D.C. They were at $345.29, up 2.1 percent in New York trading at 1:28 p.m.
The Trump administration moved Tuesday to reimpose sanctions on the Islamic Republic that had been lifted as part of a multinational nuclear pact negotiated during the Obama administration.
U.S. Treasury Secretary Steve Mnuchin said on Tuesday the measures would include cancelling export licenses issued to Boeing and rival Airbus SE to sell about $40 billion worth of jetliners to Iranian carriers.
Muilenburg said it was “very important” that the cancellations applied to both companies, preserving "a level playing field."
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