Vulcan 558

[seanrgb]

Just seen this on the TVOC Site look like funds are needed

Press Release

18th February 2008

Mayday Mayday – Vulcan hits turbulence en route to Displays

Avro Vulcan XH558 has run into the headwinds of the current economic conditions.

The return of the aircraft to air displays is at risk of being slowed to a stop because potential sponsors have drawn in their purse strings and are not making available the expected funds. With three month’s work still needed to ready the aircraft and its crew for air displays, the lack of funding to start this last phase is now endangering the return of the Vulcan to the beginning of the airshow season.

“We need to start the rest of the test flight programme with the return of good weather at the beginning of March, but we still have to have £150,000 in our hands before we can do that, plus confidence that we will go on raising at least £50,000 per month after that. Right now we look like we’re going to be starved of funds at this critical moment for the Vulcan. Every week’s delay to the restart from the end of February will push the first display appearance back by another week. What we are asking people for now is a fraction of what we have raised already, but it is needed now!”, says Dr Robert Pleming, Chief Executive of the Vulcan to the Sky Trust.

Having delivered on their promise of August 2006 to put Vulcan XH558 back into the air, on 18th October 2007, Robert Pleming’s loyal team at Bruntingthorpe Airfield, Leicestershire are determined not to fail to meet the public’s expectations of the Vulcan’s return to the air display world this summer.

Over £6million has been spent on returning Vulcan XH558 to flight, of which £2.7million has come from the Heritage Lottery Fund. The rest – the majority – has come from public donations, making XH558 truly the public’s aircraft.

“I’m afraid that if we don’t fly again soon, the door will start to close on the future of the Vulcan in flight. We won’t be able to carry out our role of ‘Honouring the Past, Inspiring the Future’, providing a once-seen, never-forgotten sight to a new generation of youngsters, stimulating interest in design and engineering, and telling people about an important period in our Nations history“, continues Robert Pleming, “With the public’s help, the triumphant return of this much-loved aircraft this summer will become the not-to-be-missed spectacle of the season. But we sincerely hope that companies will also give serious consideration to taking up the sponsorship opportunity of the year.”

Keith Mans, Chairman of the Vulcan to the Sky Trust agrees: “Once again, we are dependent on the goodwill of other people to ensure that XH558, the people’s aircraft, continues to fly. In August 2006, the public responded magnificently to our plea for support, and as the result of the £1.3million donated, XH558 took to the air last October. We are praying that people will rise to the somewhat smaller challenge we now face, and help us by making a donation and/or joining the Club today, to ensure that we are able to keep our promise to give XH558 back to the Nation this summer”

Donations may be sent to VTST, Bruntingthorpe Airfield, Lutterworth, Leicestershire, LE17 5QS, By donating online at http://www.vulcantothesky.com or by ‘phone to 0116 247 8145

Companies who want to take advantage of the very real corporate sponsorship opportunities should contact Michael Trotter on 07803 141483.

-ends-

Message from Keith Mans, Chainman VTST

18th February 2008

Dear Supporter

After a phenomenal effort that included raising over £6million of the public’s money, XH558 took to the skies in October last year in a hugely successful first flight.

As mentioned by our Chief Executive in his message below, a number of significant efforts are being made to try to raise the funds needed to complete the test flights and to present XH558 at airshows across the UK later this year to a new generation.

However I have to let you know that the Trust has currently not reached the level of committed funding that it needs to complete the work required to prepare the aircraft for this year’s display season.

Under their Companies Act obligations, the Board of Trustees must have sufficient confidence that the levels of funding required will be forthcoming at the right time. The Trustees have decided, with the deepest regret, that unless such confidence is gained by the end of March, further activity by the Vulcan to the Sky Trust will for the time being be suspended.

So once again, we are dependent on the goodwill of others to ensure that XH558, the people’s aircraft, continues to fly. In August 2006, the public responded magnificently to our plea for support, and as the result, XH558 took to the air last October. Would you please join the Club and/or make a donation now to ensure that we are able to keep our promise to give XH558 back to you this summer?

Keith Mans

Message from the Chief Executive, VTST

15th January 2008

Honouring the Past, Inspiring the Future.

As promised in the last message, here is news on our progress towards delivering Vulcan XH558 back to UK air displays later this year. To minimise duplication, I have written this as an update to my last message of 10th December, which is reproduced below.

The next phase in the new life of XH558 takes the aircraft from today up to its first public display. In funding terms, we estimate that it will cost about £575,000 to meet our target of returning her to public display on 1st June, an amount which is consistent with our estimated gross annual running costs of about £1.6million.

Following on from the enormous financial goodwill shown by many companies, and by Marshall Aerospace in particular, in enabling us to achieve the first test flight on 18th October, we have chosen to avoid the risk of future fiscal embarrassment by electing to pay for any major work before it starts.

Whilst the largest proportion of the £575,000 pays for the monthly £70,000 baseline costs of salaries and other vital items, the steepest part of the new challenge is the upfront outlay of £85,000 required now to restart the test flight programme. The costs of the display work-up flights and aviation insurance are the other major elements making up the total.

This leads me to our revenue generating activities.

Donations are continuing, with some significant donations coming from well-known companies, some of which fund the repayment our extremely patient creditors following first flight. We continue to seek major donations not only of cash but of support-in-kind, from many different types of companies, groups and individuals, linked to project milestones, through for example fund-raising dinners and events at Bruntingthorpe. However we cannot be confident that this is a source of revenue on which we can rely in the longer term.

Gaining commercial sponsorship remains our primary objective for the majority of the longer-term funding of our operation. As we had hoped, the First Flight has proved pervasive in establishing our credibility with potential sponsors, and contributed to a massive £1million's worth of publicity over 2007. However the current economic conditions are extremely unhelpful: many companies are tightening their belts. True to our philosophy of never giving up, we have decided to go where the cash is: the Middle East. We already have one potential line of significant interest, but as mentioned in my last message, it may well take some time to carefully bring these opportunities to fruition. If any reader of this message has certain knowledge of a potential sponsor, please contact Michael Trotter, our Business Development Director, on +44 (0)7803 141483.

With our migration from a major capital project to an ongoing flow of commitments, we have been looking for ways to match our funding streams to the profile of our costs.

It's clear that the Vulcan to the Sky Club, which has almost doubled in membership over the past year, is home to our strongest, most loyal and active supporters. In return for a modest annual subscription, the Club offers a range of member benefits, and is also able to remit a proportion of its income to the Trust. I have agreed with the Club's Committee that a significant growth in the Club's membership is not only achievable, but would reflect the sentiment of supporters and also provide a proportion of the ongoing revenues now needed by the Trust. The Club, with the support of the Trust, is therefore embarking on a significant membership drive. (As an example of one of the benefits, the presentation that I made to the Club's members on 12th January is downloadable from the Club Area on this website.)

We are undertaking a detailed review of our future requirements for our operating base. Our primary needs are clearly operational and maintenance feasibility, and affordability (including grants), however we also need to take into account the location as regards visitor access and catchment area, timescales and notice periods. Because of the sensitivity of some of the discussions, I can't at this stage tell you more, but will do so as soon as appropriate.

We continue to firm up arrangements for the 2008 season with display organisers, whose enthusiasm to include the Vulcan is only tempered by our need to charge a reasonable appearance fee to offset our costs!

Finally, we have launched the first stage in our Education Programme, with the announcement in December that our Partnership Primary School, Huncote Primary, will be trialling the first formal components toward the end of this month. In addition, if you are the member of a group or an association who would value a lecture or a visit, please contact Miriam Tong, our Education and Access Manager on 0116 247 8145.

I will publish a further update in March, unless there is significant news beforehand. The Avro Vulcan XH558 programme continues to be unique and challenging, but also exciting and inspiring. I'm sure that 2008 will end as 2007 just has, with a whole lot of joyous memories.

Thank you for staying with us.

Robert Pleming - Chief Executive, VTST

Vulcan Operating Company - Mission Statement

• To preserve and protect AVRO Vulcan G-VLCN ( XH558), to return her to full working order for the benefit of the public

• To demonstrate and display the aircraft at public events and to conserve her as a heritage asset in perpetuity.

• To advance the education of the general public, and also specifically engineers and aviators, in the AVRO Vulcan, her provenance; historical and social context; design technologies; operational and maintenance processes and procedures; for the benefit of British heritage, historical and technical knowledge and conservation.

• To assist in the conservation to full working order of other heritage aircraft of the 20th century

[Pete 'o' probe]

Oh bloody hell not again

[George Norman]

Guys and Gals

Well I am in the Club, I have donated and hope I can contribute a few more pounds despite being next to broke at the moment. I would be enthralled to see this fly this year, fingers crossed.

As the press release says if you not in the club please join up. The few pounds will go a long way.

Anyone else on the board a part of the XH558 club?

George

Cork

Ireland

[Bennygman]

Anyone else on the board a part of the XH558 club?

No I'm not, and if she does display this year I'm gonna look a right bloody hypocrite snapping away like mad along with everyone else. But, I have a really bad feeling about putting money into this. When it flew last year I was amazed and delighted, and surely that alone was a pretty massive achievement, but the finances don't appear to be particularly sound. There seems to have been a number of last ditch appeals for funds over the years which doesn't inspire confidence, it gives the impression of being run by passionate enthusiasts rather than practical businessmen and always being 'on the edge'.

There's nothing wrong with passion and having a dream, not to mention getting it this close to reality, but surely you can't go into something like this without a major sponsor to cover the 'get her up' costs so she can (maybe) start making money to repay the sponsors who've fronted up. Sorry to sound like a boring accountant (theres a reason for that), but something like this has to be based on a rock solid business plan, not a hopeful estimate.

Please don't think I'm knocking anyone's hard work or that I have the faintest idea how to address any of the problems I raise, it's just the impression I get from the news that is released.

Fingers crossed,

Steve.

[J35 Draken]

I think it's such a shame, they got so far and it was looking so promising. I just hope they get a sponsor soon to help continue the project.

To be honest though, I'm quite bored of the whole Vulcan thing now. It's just dragging and dragging and it seems they're constantly in need of more money, always seem to be annoying their supporters or something is always going wrong for them.

[John B (Sc)]

Tis getting a tad worrying - it's hard luck that some sponsors have pulled back at this point.

Glad they are being very cautious - much better to say no than try shoestring games.

I'm disappointed but not surprised - it has always seemed to me too big a task to keep one of those going longterm outside the military system. But that's the pessimistic (realistic?) engineer speaking

[perry]

I want to see her flying each and every year and was just as excited as everyone else when she took to the skies again.

But you have to wonder if it may be a dream that is a bottomless moneypit.

I hope someone can sponsor her and shes flying again soon

[Gary West]

They should approach BRITISH GAS - sweethearts!!!! £571m profit - I think they could spare a couple of quid, after all they are robbing it from us