Vulcan XH 558 Threads (merged)
Joined: Mar 2001
Posts: 430
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From: South East Cornwall
If what I hear about the money being pulled out of the Trust by the CEO is true
There is also a jump in consultancy costs from £63,168 in year end Oct 2009 to £114,207 in the year ended Oct 2010.
Does anyone know why the Vulcan to the Sky Enterprises net liabilities have risen from £255,052 to £490,745? Seems a big jump.
One other snippet from the latest accounts is "The trustees have estimated the remaining useful economic life of the aircraft to be 2 years and 9 months and the residual value to be £2m"
As I have said before more transparency as to where the money is going is needed.
Last edited by srobarts; 20th September 2011 at 22:46. Reason: correcting typo
Joined: Mar 2001
Posts: 430
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From: South East Cornwall
This posted on the XH558 Faceprune page this afternoon.
Vulcan XH558
It is with particular sadness that I have to tell you that we are planning that next year will be the final flying season for XH558, the world’s last airworthy Vulcan. At the end of the 2013 season she will need a complex and costly wing modification, but that isn’t the only challenge. We continue to explore ways to ensure that we can continue flying for longer, but the position today is that we cannot see how spending £200,000 of supporters’ funds on a short-lived airframe upgrade could be justified. To help explain this complex decision, we have put together a briefing document that you can read here: www.tinyurl.com/558FAQ. The team is now working hard to deliver one final, fabulous Vulcan display season and tomorrow I’ll post more details on how you can help. Thank you again for your support.
http://www.tinyurl.com/558FAQ
Home | Vulcan To The Sky
It is with particular sadness that I have to tell you that we are planning that next year will be the final flying season for XH558, the world’s last airworthy Vulcan. At the end of the 2013 season she will need a complex and costly wing modification, but that isn’t the only challenge. We continue to explore ways to ensure that we can continue flying for longer, but the position today is that we cannot see how spending £200,000 of supporters’ funds on a short-lived airframe upgrade could be justified. To help explain this complex decision, we have put together a briefing document that you can read here: www.tinyurl.com/558FAQ. The team is now working hard to deliver one final, fabulous Vulcan display season and tomorrow I’ll post more details on how you can help. Thank you again for your support.
http://www.tinyurl.com/558FAQ
Home | Vulcan To The Sky
Joined: Mar 2009
Posts: 17
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From: uk
558 ish
I ve tried to make sense from the nonsense that is on vtst site. bottom line is assuming finances are available she maybe displaying next year. We shall see. Nite folks. need my sleep and this issue does not justify me staying out of bed when i ve got an early start.
Cool Mod
Joined: Apr 1998
Posts: 6,189
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From: 18nm N of LGW
And this is what the Daily Mail is saying today.
Last Cold War Vulcan bomber to take final flight next year because of soaring restoration costs | Mail Online
Last Cold War Vulcan bomber to take final flight next year because of soaring restoration costs | Mail Online
