Team Lotus in Deal with General Electric

Formula One’s Team Lotus on Tuesday, 6/14/2011, announced a broad sponsorship deal with General Electric that will see the U.S. industrial giant’s branding on its cars starting from the British Grand Prix in July.

Team principal Tony Fernandes, who is also the chief executive of AirAsia, said in a statement the tie-up would showcase GE “in race and non-race markets alike”.

The deal comes as Asia’s largest budget airline negotiates a potentially massive plane order with Airbus, for which G is competing with United Technologies unit Pratt & Whitney to supply jet engines.

Analysts say the possible order for at least 150 Airbus planes and the related engine order are among the biggest deals expected at the Paris Air Show next week