Very sad to read of this incident and that AAIB have decided not to recover the wreckage but I'm sure they realise the cost implications.
Chartering Subsea vessels is my day job and I've done work like this for the MOD recovering crashed aircraft etc as well as lots of salvage work as an aside to the mainstream Oil and Gas works we do. I'm sorry to say GBP £10,000 really isnt going to get you very far at all.
To find the wreckage you'll need to comb the area using sidescan sonar which could take days and days. Once you find it I'd then suggest using an Observation class ROV would work out much cheaper than divers depending on the water depth.
You then have things like port dues, fuel, lubricants and a lot of other additional costs to add on. Your best bet is to grab a small survey vessel as close to the location as possible to try to get a sonar / visual survey done then decide what to do from there.
Regards
UA
Last edited by Unusual Attitude; 29th Jul 2013 at 14:57.