Page last updated at 12:44 GMT, Friday, 6 March 2009

Vulcan appeal reaches fund target

Vulcan at Waddington
The appeal has raised most of its cash in the past week

The team behind a restored Cold War bomber has raised almost 1m in pledges to keep the aircraft flying.

The Vulcan to the Sky Trust, based in Leicestershire, had warned the project could go into administration if the extra funding was not found.

The project spent more than 7m and 15 years repairing the jet aircraft, but faced a fall in corporate sponsorship.

The team said it had been overwhelmed by the generosity of the public during their four-month appeal.

But they sounded a note of caution, emphasising the pledges had to be turned into cash to secure the project's future.

'People's aeroplane'

The campaign has been backed by a number of prominent names, including Sir Richard Branson and Robin Gibb of the Bee Gees.

Members of the trust, which is based at RAF Bruningthorpe, have taken part in fund raising activities such as a 24-hour race to all the Vulcan bomber airframes in Britain.

Organisers said 80% of the pledges had come from 10,000 private individuals.

The engineering team had been put on notice that if funds were not forthcoming, their jobs would have finished this week.

Andrew Edmondson from the Trust said the success would save jobs as well as the Vulcan project.

"We have got 15 guys here with the biggest grins on their faces. They have put up with a lot - this is the third time they have been given their notice.

"But again the public have shown this truly is the people's aeroplane and have saved it from the spectre of administration which is absolutely wonderful news."

The project has running costs of about 1.6m a year.

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SEE ALSO
Vulcan cash race hailed a success
23 Feb 09 |  Leicestershire
Vulcan team's 24-hour cash dash
22 Feb 09 |  Leicestershire
Vulcan bomber faces last outing
17 Feb 09 |  Leicestershire
Vulcan bomber facing cash crash
11 Feb 09 |  Leicestershire
Bumpy return for Vulcan 'dream'
06 Jan 09 |  Leicestershire
Vulcan bomber team asks for 1m
01 Dec 08 |  Leicestershire
PM petitioned over Vulcan funding
24 Oct 08 |  Leicestershire
Vulcan grounded by engine trouble
02 Oct 08 |  Leicestershire

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