XH558 is in BIG trouble.
Oct 01 2010
Text of an email I've just received from the Vulcan to the Sky newsletter.
XH558 Needs Your Help - surviving October...
Earlier today, the entire Vulcan to the Sky staff were placed on one month's notice due to lack of funds.
As some of you will know, we have been here before. However, this time we have a much smaller amount of cash to find and we are also in direct contact with around five times as many Vulcan fans than in previous years.
So if everyone gives what they can afford, then XH558 has a bright future ahead of her.
Please don't leave this to somebody else - XH558 only ever made it back to the skies because large numbers of peoplelike you gave whatever they could afford to help her.
We need to find £365,000 by end of October. This is significantly less that the targets we set and then met in previous appeals (well in excess of £1,000,000).
With this sum secured, the Trust will remain solvent and its Board of Trustees will be able to allow the operation to continue.
By February 2011, we are confident that the various other fund-raising initiatives started earlier this year will have taken effect (described later in this email).
But if we don't meet the October target then she will never fly again.
Compared to this time in 2009 (or even 2008) we are in a much stronger position, with huge successes behind us - every penny you can give will make a difference.
The Plan - to 2012 and beyond
As we mentioned above, a solid plan exists for the longer-term survival of XH558. There are some quite exciting and new ideas here so please read on to find out what's coming.
To start with, it costs around £2million each year to operate XH558. Efforts continue to reduce this sum but it is widely accepted that this is about what it costs to run a single-aircraft airline that has no passengers...
So where will the money come from..?
Well here's the good news to start with - nearly halfcomes from established & stable sources - Standing Orders, our sponsor Aerobytes Ltd, revenues from Airshow appearances, The Club, merchandising & the Flying Fund.
For the past four years, we have always hoped a large sponsor would fill the remaining 'gap'. That large sponsor has never arrived so this has ended up being the 'hole' that has been filled by crisis appeals in previous years.
As a result, we have now developed a 'self-sufficient' business model that places no reliance upon a large sponsor.
Dave Rose - Gloucester / Copper Red 2.0 Sport RC / X007MXS