IranAir has ordered 20 of the planes made by a joint venture between Airbus (AIR.PA) and Italy's Leonardo (LDOF.MI). IranAir is expected to take delivery of the remaining 16 ATR aircraft by the end of 2018, including another five this year.
The state airline took delivery of the first four ATR 72-600 turboprop aircraft as part of plans to rebuild its fleet after nuclear-related sanctions against Iran were lifted last year.
The 70-seat ATR 72-600 is worth $26.8 million at list prices. IranAir is set to use the four aircraft on underserved regional routes.