Etihad Airways has signed a major sponsorship deal with the Ferrari F1 team ahead of the beginning of the 2008 FIA Formula 1 World Championships this weekend.

The airline has agreed the deal with the Italian scuderia, or team, thought to be worth £60m across three years. The Abu Dhabi-based airline's name will feature prominently on the rear wing and turning vanes of the world's most famous red cars throughout the 18-race 2008 Formula One season. The logo will also feature on driver helmets, starting at this weekend's Australian Grand Prix. Etihad will also feature on the overalls of Ferrari's two drivers -  F1 World Champion Kimi Raikkonen and Felipe Massa - from the Malaysian Grand Prix at the end of the month.  

Etihad Airways already has presence in Formula 1. In December last year, it announced that it would become the title sponsor of the Formula One Abu Dhabi Grand Prix until 2011. The inaugural race will take place next season.
The deal adds to the airlines existing high profile portfolio of sports sponsorships, which includes Chelsea Football Club and Harlequins RFC.

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