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| Iran’s NDF allocates 5% of assets for buying planes |
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 TEHRAN - The National Development Fund has allocated five percent of its assets for buying planes, ISNA reported.
NDF board member Mahmoud Dodangeh said in April that around $50 billion has been saved in the fund.
In May, Iranian Civil Aviation Organization head Hamidreza Pahlavani said Iran plans to establish two new airlines in the current Iranian calendar year, which started on March 21.
A number of planes will be added to the national fleet in the current year, he said, adding that 19 planes were added to the fleet last year.
He added that currently 18 airlines are in operation in Iran.
The Civil Aviation Organization will remove 25 planes with over 30 years of service from the fleet, most of which are Boeing 707 and Boeing 727 models, according to the report.
Assets of the NDF are projected to reach $70 billion in the current Iranian calendar year.
Iran transfers 20 percent of its oil revenues to the NDF.
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