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Thu 13 Mar 2008 02:24 PM

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Etihad to sponsor Ferrari F1 team

Abu Dhabi-based carrier signs three-year sponsorship deal with current motor racing world champions.

Abu Dhabi's Etihad Airways said on Thursday it signed a three-year sponsorship deal with the Ferrari F1 team, the current Formula One world champions.

Etihad CEO James Hogan signed with the Ferrari F1 Grand Prix team ahead of the opening Formula One race of the season in Melbourne on Sunday, a statement from Etihad said.

"With a TV audience of 2.5 billion people in nearly 200 countries, the association with Ferrari will give Etihad enormous worldwide exposure and help bring Abu Dhabi to the world," said Hogan.

Etihad's involvement with the Ferrari F1 team is the latest high-profile sports sponsorship for the airline, and complements existing partnerships with Chelsea Football Club, Harlequins Rugby Football Club and the Abu Dhabi Golf Championship.

Abu Dhabi government-owned Mubadala Development Company holds a five per cent stake in Ferrari. (Reuters)

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