Airasia Agrees Caterham F1 Extension
AirAsia has agreed a one-year extension to its sponsorship of Caterham F1 as the team prepares for the 2012 Formula One season – the group entered Formula One in 2010 as Lotus Racing.
An AirAsia statement read: ‘Under the extension, AirAsia shall be an official team partner of Caterham F1 and title sponsors of the (driver development) programme for the duration of the 2012 F1 racing season at the same terms as provided in the agreement, except in relation to the sponsorship amount from the company to Caterham F1.’
AirAsia was founded by Caterham team principal Tony Fernandes.
The agreement is part of the airline’s bid to utilise sports sponsorship to drive consumer aspirations and build sports-related themes in relation to sales campaigns for various flight destinations.
Caterham F1 entered the sport two years ago under the Lotus Racing moniker as one of three new additions to the Formula One grid.
Competing under the Team Lotus name in 2011, a long legal battle will see the outfit rebranded as Caterham F1 in 2012, with the current Renault team becoming Lotus.
