The deal comes just four weeks ahead of the race at Albert Park, Melbourne. Qantas was title sponsor of the race from 1997 to 2001, and has been the official airline partner since 1985.
"We greatly value the involvement of all our commercial sponsors - their support reduces the cost of this event to the Victorian Government,” said Tourism and Major Events Minister Tim Holding.
“Melbourne is the major events capital of the world and will next month come alive when hundreds of thousands of Melburnians and visitors from interstate and overseas flock to Albert Park for the Grand Prix.”
In November 2006 investment company ING became title sponsor of the Australian grand prix in a three-year deal from 2007 to 2009.
