Mubadala, the Abu Dhabi-based investment and development company, and Etihad Airways have signed a Memorandum of Understanding (MoU) at the Dubai Airshow worth potentially $1 billion over a 10-year period.
The agreement was signed by Homaid Al Shemmari, chief executive, Aerospace and Engineering Services, Mubadala, and James Hogan, president and chief executive of Etihad Airways, and covers a range of new contracts.
Under the terms of the MoU, Etihad will appoint Mubadala’s SR Technics, a provider of aircraft, component, engine and technical services, as its preferred service provider on commercially competitive terms.
In addition, Mubadala and Etihad are exploring the feasibility of the establishment of a best-in-class narrow body maintenance, repair, and overhaul facility in Eastern Europe, with discussions already progressing with concerned parties.
“The strong partnership between Etihad Airways and Mubadala is a key strategic driver in the development of Abu Dhabi as a global aviation hub,” said Mr Hogan.
“Building on the success of our collaboration to date will give us the scale to expand the range of services we jointly offer, and help keep our respective organisations at the forefront of the global aviation and aerospace industries.” Mr Al Shemmari added.
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