US Sanctions Cause Another Airline’s Departure From Iran

Sep 4, 2018

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

US sanctions on Iran continue to have a crippling effect on the country’s aviation market. Greek carrier Aegean has nixed its only flight to Iran, it announced Tuesday.

The airline will end all service between Athens (ATH) and Tehran (IKA) on October 11. Aegean flew an Airbus A320 three times a week to the Iranian capital.

Aegean joins Air Asia X, Air Astana, Air France, British Airways, Etihad Airways, KLM and Thai Airways in cancelling their Iran flights to Iran.

The Star Alliance carrier cites US sanctions that recently went into place and a second round that will take effect in November, which restrict banking and currency exchanges with Iran. The US said it will sanction any American or foreign company that continues to do business with Iran prompting airlines, hotels and other companies to cut ties with the country.

Passengers who have already purchased tickets for flights to Tehran that depart after October 11 can cancel them for a full refund, the airline said.

Airbus and Boeing have had to cancel billions of dollars of aircraft orders because of the sanctions — which Iran plans on suing the US for.

Alitalia, the Lufthansa Group, Kuwait Airways, Qatar Airways, Emirates and Turkish Airlines still operate direct flights to Iran and have not yet announced plans to end the routes. 

“There’s no question that the economic sanctions that have been imposed on Iran are affecting its economy and limit some companies’ ability to do business there,” Henry Harteveld, founder of travel industry analysis firm Atmosphere Research Group, told the New York Times in August. “So I’m sure there’s been a sharp falloff in [airline] traffic both originating from Iran as well as traffic from Europe and other international points, including the U.S., going into Iran.”

H/T: Alex Macheras

Chase Sapphire Preferred® Card

WELCOME OFFER: 80,000 Points


CARD HIGHLIGHTS: 3X points on dining and 2x points on travel, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.
  • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Regular APR
16.24% - 23.24% Variable
Annual Fee
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.