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GE says U.S. approved overhaul of 18 aircraft engines for Iran

General Electric Co. acknowledged on Thursday that a cut in its top-tier credit rating was possible, but its chief financial officer said th
General Electric Co. acknowledged on Thursday that a cut in its top-tier credit rating was possible, but its chief financial officer said th

WASHINGTON (Reuters) - General Electric Co on Friday said it had received permission from the U.S. government to overhaul 18 engines sold to Iran in the late 1970s under a temporary sanctions relief deal reached in January.

GE spokesman Rick Kennedy said the U.S. Treasury Department had approved the company's application to service the 18 engines at facilities owned by GE or Germany's MTU Aero Engines , which is licensed to do the work.

He said GE officials would meet with officials from Iran flag carrier Iranair and MTU in Istanbul next week to discuss Iran's needs.

Reuters reported in February that both Boeing and General Electric Co had applied for permission to export spare parts for aircraft to Iran during a six-month window agreed by Iran and six world powers in November.

(Reporting by Andrea Shalal; Editing by Sandra Maler)

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