vulcan from the latest news letter fri 8 march

Vulcan XH558 receives no funding from Government

She is almost entirely dependent on commercial income and the generosity of
those who feel it is important to keep her flying.

If you are amongst this group, Vulcan to the Sky Trust would greatly value
your support.


Statement from the Board:

At their recent regular meeting earlier this week, the Board of Trustees of
the Vulcan to the Sky Trust (VTST) met via conference call to review the
financial status of the Trust. The Board discussed the latest funding
appeal, which is currently falling behind the level needed to sustain the
Trust's continued operations.

The VTST has no cash reserves: if the appeal fails to raise the £133,600
required by the end of March, then the additional £150,000 needed by the end
of June for XH558 to reach this summer's display season and the resulting
revenue opportunities, there are no emergency funds available to allow the
Trust to keep going.

Notwithstanding the serious shortfall in the current appeal and the absence
of any reserve, the Board have asked the Trust's executive team to re-double
their efforts over the next four weeks to generate increased funds from the
current appeal, and to explore all other avenues of funding. If that
endeavour proves unsuccessful, bearing in mind their duty to ensure the
Trust remains solvent at all times, the Board will have no option but to
place the staff on one month's notice.

The Trustees considered that XH558's stalwart community of supporters would
want to know of the critical funding issue which the Trust now faces, which
could result in the Trust ceasing operations before the planned display
season.

The Board would like to assure all of XH558's supporters that they remain as
determined as ever to ensure XH558 participates in this year's display
programme and, indeed, to carry on with the feasibility studies for the
extension of her flying life beyond 2013. However, without the requisite
financial support we cannot deliver that.

John Sharman FRAeS, Chairman of Board of Trustees
7th March 2013