Iranian flag carrier Iran Air and Airbus have signed an agreement for 118 new aircraft, as part of a civil aviation cooperation and modernization package which was made possible after the lifting of economic sanctions against the country on January 16, 2016.

The order consists of 21 A320ceos, 24 A320neos, 27 A330ceos, 18 A330-900s, 16 A350-1000s and 12 A380s.

“Today’s announcement is the start of re-establishing our civil aviation sector into the envy of the region and along with partners like Airbus we’ll ensure the highest world standards,” said Farhad Parvaresh, chairman and CEO of Iran Air.

Iran Air’s current fleet consists of A300s, A310s, A320s, Boeing 747-200s, a 747SP and Fokker 100s.