Airbus announced that Iran has agreed to buy 118 Airbus jets worth $27 billion at list prices, including a dozen A380 superjumbos, after international sanctions were lifted against Tehran this month. The order for 73 wide-body and 45 narrow-body jets allows Airbus to steal a march on US rival Boeing as Iran seeks to renovate and expand its worn-out fleet of 225 planes. However, they will not be delivered before end-decade as Iran expands its airports and focuses on urgent needs.