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Airbus signs parts deal with Abu Dhabi fund

An A380 aircraft is seen through a window with an Airbus logo during the EADS / Airbus 'New Year Press Conference' in Hamburg January 17, 20
An A380 aircraft is seen through a window with an Airbus logo during the EADS / Airbus 'New Year Press Conference' in Hamburg January 17, 20

DUBAI (Reuters) - Airbus on Monday agreed a new deal to expand its partnership agreement with Mubadala , the Abu Dhabi investment fund with a mandate to develop the emirate's local economy.

The new agreement, signed at the Dubai Airshow, is "for further composite and metallic aero structure production in the United Arab Emirates, in addition to procurement of composite raw materials, worth $2.5 billion," Mubadala said in a statement on Monday.

Reuters reported on Sunday that the two parties were close to signing a strategic deal.

(Writing by Rania El Gamal; Editing by Dinesh Nair)

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