Flying Scotsman to float

Steaming her way towards the London stock market

The world-famous locomotive, the Flying Scotsman, is set to steam its way on to the stock market in London.

Flotation plans being drawn up mean rail enthusiasts will be able to buy a share in the engine, which made its first public appearance in 1923.

By giving the public the chance to own shares in the locomotive, it will become the ultimate 'people's engine'

Robin Jones, Heritage Railway magazine

The money raised from the flotation will go towards a multi-million pound steam theme park, which has been earmarked for a site in Doncaster.

The Scotsman's current owner, Dr Tony Marchington, bought the train in 1996, at a cost of £1.5m.

He has spent another £1m on restoring her, in what has been described as the most extensive and expensive steam locomotive restoration ever undertaken.

"Wherever I go people have heard of her," said Dr Marchington.

"At the time there were many sceptics who doubted my determination and financial ability to complete the task," he added.

A record-breaker

The Scotsman ran on the London and North Eastern Railway for 40 years, completing some two million miles of service between London, Newcastle and Scotland before being withdrawn from active service in 1963.

In 1928, she made the first non-stop express run from London to Edinburgh, completing the 393 miles in eight and a quarter hours.

In 1934, she became the first engine to achieve an authenticated speed of 100mph travelling between Leeds and London.

After 1963, the locomotive had a succession of private owners, including pop impresario Pete Waterman, but was finally left to decay in a shed, until current owner Dr Tony Marchington came along.

"Flying Scotsman has become the definitive icon of the steam age," said Robin Jones, editor of Heritage Railway magazine.

"By giving the public the chance to own shares in the locomotive, it will become the ultimate people's engine," he added.