Islamic Republic and Sanctions

Islamic republic: But following the 1979 revolution that transformed Iran into an Islamic republic increasingly at odds with the West, decades of sanctions and isolation plunged the industry into disrepair, according to CNN. The average age of the fleet is now more than 22 years old, much of it comprised of cheaper Russian aircraft. The national carrier, Iran Air, boasted a fleet of the latest Boeings and was pursuing the purchase of Concorde jets. Iran inability to import vital parts has contributed to one of the worst safety records in the world. International investment International investors from industries spanning energy, finance and software are clamoring to enter the region second largest economy, worth around $400 billion even under sanctions. Now, Iran deal with world powers to limit its nuclear program in exchange for sanctions relief could revitalize its aviation industry. (news.financializer.com). As reported in the news.