Toyota F1 loses sponsor

Kingfisher Airlines is dropping its sponsorship of Toyota’s Formula One team, by mutual agreement.
 
The move had been anticipated, as the primary owner of Kingfisher is Vijay Mallya, who recently acquired his own Formula One team, the former Spyker team, now named Force India. 
 
Toyota released a statement in which it wished him well:
 
"Toyota Motorsport GmbH has enjoyed a successful partnership with Kingfisher Airlines, collaborating on several promotional events both in India and across the world. However, Dr Mallya is now focusing on his new F1 project and Kingfisher Airlines’ request for an early end to the partnership has been agreed to be in the best interests of both parties."
 
The team’s boss, Tadashi Yamahina, added, “I would like to thank Kingfisher Airlines for its support during 2007 and I wish Dr Mallya good luck with his new F1 venture. I look forward to seeing him next season, even if he is now associated with a rival team."
 
Kingfisher, which is one of the companies controlled by Mallya, was an associate sponsor of the Toyota Formula One team, but certainly not central to that team’s financial stability.