Boeing has finalized a definitive agreement with Iran Aseman Airlines for the purchase of up to 60 737 MAX commercial passenger aircraft.

The deal includes firm orders for 30 737 MAXs, valued at $3 billion at list prices, and purchase rights for an additional 30 737 MAXs. The variants of the MAX series to be included in the deal were not specified.

The contract signing followed a memorandum of agreement (MOA) with Aseman in April 2017, expressing the airline’s intent to make the purchase. Boeing has applied to the US Treasury Department’s Office of Foreign Assets Control for approval of a license to perform under this transaction.

Deliveries are scheduled to start in 2022.

Iran Aseman Airlines currently has a fleet of around 30 aircraft, which includes 17 Fokker F100 regional jets. As a result of the long-standing embargo on US aircraft sales, the average age of aircraft in the fleet is 25 years, with the oldest members listed on specialist sites as being three Boeing 727-200s that are 37 years old.