Iran Air could be a buyer of some A340 planes that Lufthansa no longer needs, the chief executive of the German airline said on Thursday.

Lufthansa has signed a memorandum of understanding with Iran Air that comprises cooperation on maintenance and catering, as the country emerges from a period of sanctions.

Lufthansa is taking delivery of 52 new planes this year, including two A350 planes that will replace older A340 jets.

"We are looking at whether Iran Air is perhaps a customer to take those planes from Lufthansa," Carsten Spohr, chairman and chief executive officer of Lufthansa, said after the airline reported its annual results on Thursday. - Reuters