Caterham has landed a major new sponsorship from EADS, the aerospace group that owns the aircraft maker Airbus. Last year the company generated €49.1 billion in revenues. The deal, believed to be worth as much as $10 million a year for several years, is likely a B2B deal related to Airbus orders by Caterham boss Tony Fernandes, who is running the booming AirAsia firm in the Far East. AirAsia recently announced that it was buying budget airline Batavia Air in Indonesia for $80 million in cash.
“I am absolutely delighted that EADS has joined our team and I want to welcome them into our F1 family as Official Partner,” Fernandes said. “EADS joins not only our F1 team but the whole Caterham Group as we evolve from an F1 team into the wider automotive and specialist consultancy service that the various arms of Caterham Group represent. The partnership with EADS and Caterham F1 Team is the first of a number of exciting announcements we will be making about projects that various arms of the Caterham Group are working with EADS on. Right now Caterham Composites and Caterham Technology and Innovation are involved in programs that utilise the specialist skills that both companies have in composite design and manufacturing, including a revolutionary lightweight aircraft seat and an in-flight entertainment system that will showcase the benefits composite materials provide on a global scale. This is a very exciting announcement and one that shows that world leading companies like EADS see the value that can be created from a partnership with Caterham Group and its various arms.”