Qatar Airways Rumored To Become The Airline Sponsor Of Formula 1

According to Sport Business, Qatar Airways is set to become the official airline sponsor of the world’s largest motorsport, Formula 1.

Emirates out, Qatar Airways in

One month before the end of last season, there were reports that talks between Emirates and Formula 1 had stalled and that ownership would be looking for a new airline sponsor. Liberty Media Corporation owns Formula 1 and reportedly demanded that Emirates pay double the amount it paid in 2018 to remain the official airline sponsor.

Paying more than double what it paid five years ago was not worthwhile for Emirates, but a price increase was inevitable with the sport’s rapid growth in recent years. TV numbers and in-person attendance have grown significantly recently, largely helped by the Netflix series Formula One: Drive to Survive. For many years, the United States only had one race. In 2022, that number grew to two, with the addition of the Miami Grand Prix, which sold out very quickly, and ticket resale values went through the roof. The 2023 season will feature three American races, with the newest location being Las Vegas.

Photo: Michael Cola | Shutterstock

Rumors have circulated for some time that Formula 1 ownership has found a new airline sponsor, but it was not until this week that a name surfaced, Qatar Airways. According to reports, the Gulf carrier has agreed to a $50 million, five-year sponsorship deal. If reports turn out to be accurate, the Emirates branding that has become an iconic part of the sport, with trackside, paddock, and overhead banners, will not feature for the first time since 2013. The 2023 season begins in early March, and the announcement is expected shortly before.

Qatar Airways is no stranger to sports sponsorships, with its most notable one being an official partner of the 2022 FIFA World Cup. Additionally, Qatar Airways has been an official partner and the official airline partner of FIFA since 2017. The Gulf carrier also sponsors some of the world’s biggest football clubs, like Paris Saint Germain, Bayern Munich, and AS Roma. Brooklyn’s basketball team, the Nets, is also sponsored by Qatar.

Recent Qatar Airways news

The dispute between Airbus and Qatar Airways over the peeling paint on the airline’s A350 aircraft is long from over. This week, the two parties returned to court, and earlier today, Simple Flying had the chance to speak with Airbus and its legal team.

Photo: Vincenzo Pace | Simple Flying

Today’s update is rather significant, as the airline has been ordered to produce correspondence with the Qatar Civil Aviation Authority regarding the grounding of the A350s. The airline has claimed that it was forced to ground its A350 fleet but has never produced any proof of communication with the QCAA. This will soon end, as Judge David Waksman has given the airline until April 21st to produce evidence of communication.

The court case has been far from short and has also been shady, with rumors of wrongdoings flying about Airbus and Qatar Airways. As updates become available, Simple Flying will continue to inform our readers.

Source: Sport Business