Iran said Sunday, January 24 it will buy 114 Airbus planes to revitalize its ageing fleet, in the first major commercial deal announced since the lifting of sanctions under its nuclear agreement, AFP reports.

Transport Minister Abbas Akhoundi said a deal on the purchase would be signed between national carrier Iran Air and Airbus during a visit to Paris this week by President Hassan Rouhani.

Rouhani will travel to Italy and France from Monday to Wednesday on his first visit to Europe since the implementation of the deal curbing Tehran's nuclear activities in exchange for the lifting of punishing economic sanctions.

Modernizing the country's air fleet and infrastructure is a top priority, with Akhoundi saying Sunday that only 150 of the country's 250 planes are operational.

"We have been negotiating for 10 months" for the purchase of planes but "there was no way to pay for them because of banking sanctions", state media quoted Akhoundi as saying.

"We need 400 long- and mid-range and 100 short-range planes," he said.

He said the first batch of new planes would arrive in Iran by March 19 but provided no financial details of the deal with Airbus.