Private aerobatic team planned

The businessmen own four former Red Arrows planes

Three businessmen have announced plans to become the world's first private aerobatics display team.

The men own four former Royal Air Force Red Arrow jet planes, which they fly each weekend from North Weald airfield in Essex.

Mark Grimshaw, from Norwich, Chris Hudson, 46, a trader with investment brokers ICAP, and Ken Lyndon Dykes, chairman of a group of equestrian companies, are all private pilots.

Over the last eight years they have bought the Folland Gnat jets, which fly at more than 600mph, for about £150,000 each.

I don't think it will be anything like the Red Arrows do because they are probably the best aerobatics team in the world

Mark Grimshaw

Three of the planes have retained the famous red colour and markings, although they will have a new livery once a sponsor for the project is found.

Mr Grimshaw, 34, said: "What we want to do is set up the first private formation jet aerobatics team and fly them at the major air shows in the UK and Europe and most of the major sporting events.

'Ideally suited'

"I don't think it will be anything like the Red Arrows do because they are probably the best aerobatics team in the world - it's not a competition with them.

"But the planes have such history, it would seem silly not to do something with that.

"The Gnat is obviously ideally suited for this."

If a sponsor can be secured soon they hope to perform at airshows such as Biggin Hill and Farnborough this year.

The Lincolnshire-based Red Arrows were formed in 1965, flying the Gnat jets until 1980 when Hawks were introduced.