Page 65 - IRANRptOct21

Iran’s IKCO teases first ever crossover model
the unofficial exchange rate). The new model is expected to top this price. Saipa has not stated if the car is destined for the regional export market, though it has previously said it was looking at sales in regional countries including Iraq and Armenia, where the company has previously operated showrooms.
Iran Khodro Corporation (IKCO) has announced its first-ever crossover model, the K125, for the local market with presales expected in the coming months, LIT has reported.
The country's largest carmaker has struggled in recent years to upgrade its offer due to US sanctions specifically levied on the company and the Iranian auto production industry. IKCO is, meanwhile, playing catchup with its main competitor on the Iranian market, SAIPA. The latter offers at least two locally developed crossover models, the latest of which is the Aria.
The K125 comes with a 6-speed manual gearbox, runs on the seventh generation EF7 engine with a turbocharged powertrain and seats five people. Mojtaba Moghimi, CEO of IKCO, said that the car would "fill the void in the company inventory and appeal to the growing crossover and small B-segment market", which has taken the region by storm in recent years.
Current price estimates for the crossover range up to Iranian toman (IRT) 400mn ($14,814 at the unofficial exchange rate), but if the local currency depreciates further the model will probably cost more by the time it reaches showrooms in late 2022.
9.2.3 Aviation corporate news
Longstanding plans to privatise Iran Air scrapped
Iran is offering major airlines overflight discounts to boost transit income
Longstanding plans to privatise flag carrier IranAir have reportedly been scrapped over concerns that the airline might be dogged by future financial problems under a non-state owner.
Iran’s Transportation Minister Mohammad Eslami was cited by Press TV as saying that the government decided to remove IranAir from its privatisation list following discussions between ministers that determined there was a risk of insolvency for the carrier after a few years of operations under private ownership.
“This company was available for privatisation for several years. However, the situation was not ripe for such a divestment because what would take place in practice could cause harm,” the minister said.
IranAir, founded just after WWII and known in Iran as Homa, is the largest airline in Iran. It operates both domestic and international routes.
The airline has faced financial difficulties in recent years caused by US sanctions that place new planes and parts out of its reach.
Eslami added that the transportation ministry was working on plans to carry out an overhaul of IranAir’s organisational structure to turn it into a major player in the global aviation industry.
Iran is offering overflight fee discounts to major airlines amid efforts by the government to boost transit income by increasing the number of flights through the country's airspace, Transportation Minister Mohammad Eslami has been cited as saying by Press TV.
A plan by Iran Airports and Air Navigation Company (IAC) to cut its overflight fees was approved by ministers, Eslami was reported as saying.
Xinhua news agency at the same time released a report quoting Eslami as stating that the government has been working with the Iranian armed forces to
65 IRAN Country Report October 2021 www.intellinews.com