Concorde had to stop flting because EADS withdrew their support. EADS had taken over the design authority. Under present EASA legislation if any aircraft type loses it's factory support it will become an annex 2 aircraft.
The latest under that legislation is a proposal to make evrything build before I believe 1970 annex 2.
That in turn means that the aircraft can be operated on a permit.
The Vulcan to sky project is a most sincere project and includes some of the most reputable maintenance companies in the UK, Marshall's of Cambridge is one of them. Components have now started to arrive back from overhaul and it'll take the guys a couple of weeks to put it back together.
To give you some comparison, A Boeing 747 d-check takes usually around 5- 6 weeks. When the aircraft arrives it takes less than 5 days to take it apart, even stripping the paint. Bits and bobs will be all over the hangar floor, but hey presto a couple weeks later that same aircarft take you and family away on holidays or poses for the picture you take from your stepladder.
Problem for the Vulcan group is that it takes a small army to accomplish the above with the 747, they lack in manpower and therefore it'll take a bit longer. This project started the day 558 was bought at auction.
What's going to be a big problem here is the insurance for displaying 558 as insurance is now mandatory and at almost a 100 tons gross weight that's not going to be cheap. The CAA is on board for the project.
As a matter of fact the group as already put in an apllication for permit/CofA.