Well, i wrote to HLF expressing my concerns.. this is the reply i got:
Thank you for your email. The Vulcan to the Sky Trust was awarded a Heritage Lottery Fund (HLF) grant of £2.73million in June 2004. This grant is for the restoration of the Avro Vulcan Bomber XH558, plans for it to fly for another 10-15 years and for it to be kept at the Imperial War Museum in Duxford. An accompanying education programme is also planned which will tell the story of the Cold War.
The Vulcan to the Sky Trust is doing a terrific job restoring the Vulcan Bomber and we have been impressed with their ability to stick to the proposed timetable for getting the aircraft up and running. However, the Trust has let us know that costs have escalated and it is having problems securing additional funding.
We are currently in discussion with the Trust as to how it can best take the project forward. Whilst we sympathise with their financial difficulties, it would be unlikely that we could offer any further support having already awarded a substantial grant.
Doesnt look like they will be funding it... 