(REUTERS) Airbus signed a firm contract on Thursday for the sale of 100 aircraft to Iran Air, as Tehran and Western companies race to re-open trade almost a year after sanctions against Iran were lifted.

Airbus said the contract, which Iran flagged earlier this week, covered 46 Airbus A320 planes, 38 A330 planes and 16 A350 XWB aircraft, with deliveries due to begin in early 2017.

The head of Iran Air was quoted on Sunday as saying the value of the contract would not be more than $10 billion.

The timetable suggests the first Airbus A321 could arrive before the Jan. 20 inauguration of U.S. President-elect Donald Trump, who has opposed the deal to lift most sanctions on Iran in exchange for curbs on its nuclear activities, and well ahead of Iranian presidential elections in May next year.

Reuters