Iranian state TV said the countries' civil aviation authorities would allow each nation to maintain 21 weekly flights to various destinations. There will also be unlimited cargo flights.
British Airways plans to resume its scheduled flights to Iran in July. The carrier halted flights to Tehran in 2012 amid rifts between Iran and the West over Tehran's nuclear ambitions. Iran Air, however, continued its three weekly flights to London.
Last December, Air France also said it would resume flights to Tehran for the first time in more than seven years, starting in April.