Etihad-Mubadala-PartnershipMubadala, the Abu Dhabi-based investment and development company, and Etihad Airways, the national airline of the United Arab Emirates, have signed a Memorandum of Understanding (MoU) that will allow the companies to build on their long-term strategic partnership by further exploring areas of cooperation.

The agreement was signed at the Dubai Airshow covers a range of new contracts with a potential value of US$1 billion over a 10-year period.

Under the terms of the MoU, Etihad Airways will appoint Mubadala’s SR Technics, one of the world’s leading providers of aircraft, component, engine and technical services, as its preferred service provider on commercially competitive terms.

In addition, Mubadala and Etihad Airways are exploring the feasibility of the establishment of a best-in-class narrow body Maintenance, Repair, and Overhaul (MRO) Facility in Eastern Europe, with discussions already progressing with concerned parties.