US-based plane manufacturer Boeing has signed a contract with Irans Aseman Airlines for the purchase of 30 Boeing 737 planes.
It is understood that Aseman Airlines has committed to acquire another 30 Boeing planes once the delivery of the first order has been completed.
According to news agency Irna, the deal for the 60 aircraft is estimated to be worth $3bn.
The airline, Irans third largest next to privately-owned Mahan Air and state-owned Iran Air, is understood to pay the required 5 per cent down payment for the first 30 planes, and raise financing to cover the remaining 95 per cent of the deal.
The deal with Aseman Airlines is the second contract the US firm has signed with an Iranian airline since the international nuclear related sanctions on the country were lifted. It is the first to be signed under the administration of US President Donald Trump.
In June last year, Boeing and Iran Airlines signed an agreement for the supply of up to 80 planes, a deal which is estimated to cost at least $11bn depending on the agreed aircraft models.
Aseman Airlines is owned by the states civil service foundation but managed as a private entity.
Irans aviation authorities have indicated that the country needs up to 90 new planes a year over the five years to modernise its fleet.
Iran Air has received the first three planes from Frances Airbus in recent months. Irans national carrier has placed an order for over 100 planes with the French plane manufacturer in early 2016.