Spyker announce new title sponsor

Etihad Airways is the national airline of the United Arab Emirates, founded in 2003 and operating from Abu Dhabi and flying to 37 worldwide destinations. Aldar creates real-estate developments in Abu Dhabi and is the company responsible for the development of the Yas Island, which will host the 2009 Abu Dhabi Grand Prix.

"This partnership is the start of a new era for the team," commented Spyker F1 boss Colin Kolles. "We are proud to be associated with Etihad and Aldar, two of Abu Dhabi's major brands that have both shown a determination and desire to succeed in their own industry sectors.

"This drive matches Spyker's philosophy and brand values perfectly and I hope we will both continue to progress together for many years to achieve our own respective goals."

Michiel Mol, Spyker's F1 director, added: "This is another stepping stone towards our goal of getting to the forefront of Formula One.

"When we came into the sport just six months ago, we emphatically stated we wanted to provide an attractive package to draw commercial partners to the team. We have now shown we can deliver on our statements."

James Hogan, chief executive of Etihad Airways, said: "I am absolutely delighted to see the birth of the Etihad Aldar Spyker F1 team. As well as being a turning point in the Spyker team's own history, it marks the start of a new era for the airline itself.

"We will use the partnership to launch the airline to a completely new level of consumer awareness. This is just the start of a very exciting partnership, one that will hopefully bring both parties great success."

Ronald Barrott, CEO of Aldar, further commented: "Abu Dhabi is a fast growing market and F1 is integral to its commercial growth.

"Aldar has shown a firm commitment to F1 with the ongoing development of Yas Island, but the partnership with Spyker profoundly deepens our involvement and widens the profile and reach of the company.

"As a developing organisation, the partnership is a perfect match and we look forward to a mutually beneficial relationship."

The Spyker car company already has ties in Abu Dhabi, with Mubadala buying into the Dutch carmaker in November 2005. And Spyker Cars CEO Victor Muller says today's announcement is a result of the strong ties between his company and the Middle Eastern country.

"Ever since Mubadala became a shareholder in our company, the ties between Spyker and Abu Dhabi have strengthened resulting, amongst others, in today's announcement," Muller said.

"I am very proud that this partnership with Etihad and Aldar has come to be and this is only the beginning."