Nov.7 (GMM) Ferrari sponsors Etihad and Aldar will appeal the outcome of this week’s London High Court ruling.
The Abu Dhabi companies were ordered to pay $4.7m to Force India for breaching contract when they switched to Ferrari in 2008.
“Etihad Airways and Aldar Properties were surprised at the judgment and strongly disagree with its conclusions,” an Etihad spokesman was quoted as saying on Saturday by the UAE daily The National.
“We have been advised that there are strong grounds for appealing the decision.”
In court, Etihad had argued conflict with Kingfisher, the brand owned by Vijay Mallya, the Indian billionaire who bought Spyker and renamed it Force India.