Anyone else seen this ?

[Mackrick]

Following what we expect to be XH558’s last sortie of 2009, we have been working hard to bottom out all the activities we need to carry out over the next few months, and crucially their costs, preparatory to explaining our plans for the next year to you all.

Very important decisions are being made concerning aircraft flying life management, with the objective of ensuring that we meet our commitments to fly the aircraft for as long as possible into the foreseeable future.

We have decided to bring forward work that we had intended to carry out during Winter 2010-11, and that of course brings forward the associated costs.

One of the big disappointments arising from our history of continually having to struggle for funds is that we are not given the usual commercial terms by our major suppliers: we have to pay for most technical, engineering and support costs at the start of the related activity, rather than at the end. Whilst providing comfort to our suppliers, this creates real timescale pressure on fund-raising, since we obviously then have to raise substantially all of the funds needed before the work can start.

Given our proven success at raising funds over time, what we could do with right now is a £500,000 line-of-credit or overdraft, but sadly, for us as a charity, this sort of facility is apparently not available from traditional banking sources.

As the result, we are now nearly ready to launch XH558’s 50th Birthday Appeal.

We are currently finalising the detailed explanation of our plans and the 50th Birthday Appeal that will be available from our web site, whilst also being sent out to all those for whom we have address information.

There will be an explanation of our situation, detailed income and expenditure analysis, whilst on the web site - a comprehensive set of Questions & Answers and regular updates of the Appeal progress, both by performance graphs and by weekly updates. If there are any queries, there will also be a facility to contact us and have those matters resolved.

Our official launch date is currently Friday 16th October. Once you have received this information, we hope you will understand the rationale behind our proposals and the 50th Birthday Appeal.

We estimate that only about 50,000 people have actually helped sustain XH558 over the past year, compared with over 2.5million who have enjoyed the sight and sound of her flying. We need your help to convert the remaining 2,450,000 from passive spectators to active supporters!

With best wishes,

Robert Pleming
Chief Executive VTS Trust

[Saracenman]

yeah, just had that email myself!

no surprises really, but it CONTINUES to irritate me how VTST always gloss over issues rather than being honest. "...We have decided to bring forward work that we had intended to carry out during Winter 2010-11, and that of course brings forward the associated costs..." - WHAT work, and WHAT cost?

"...our history of continually having to struggle for funds is that we are not given the usual commercial terms by our major suppliers: we have to pay for most technical, engineering and support costs at the start of the related activity, rather than at the end..." - no! the reason you get those terms is because you are CRAP at paying your bills!

as for the 2.5 million who've seen 558 this year - well clearly VTST are not doing enough to ENCOURAGE all those people to sign up as supporters! many of those who've seen 558 this year might not even LIKE 558! once VTST actually demonstrate to people what the true value of 558 is, more support will inevitably follow. offer more to 558's supporters, treat them with respect, and more will sign up!

it's a very simple formula, but sadly one which VTST have consistently failed to deliver! things are FAR better than at any time in the past, but still a very long way to go and, sadly, at a fundamental level.

sm

[Pujgnie]

I'm guessing work on the spar.. which is pretty major work - and costly.

We've been there for 558 in her worse times of crisis. This announcement should come as no surprise. We all knew one was pending , so lets knuckle down and get on with it !!!

Look on the bright side... at least it's not £1m.. by x date.

JMO

[RLN]

Yep, seen it. So.. the 50th anniversary appeal is on. Didn't someone mention this a few days ago? Well, what a suprise, but as usual, I shall be digging into my pockets.

[Nickolas]

I would hazard a guess at the front spar mod.............
A shopping list would have been nice though.
(Tight arse bloody wanker bankers causing more aggro too).

[Mayfly]

I would exepct more info to come out in the funding push.

I don't think you can blame the bankers, rules are rules, and to be fair you can't blame the suppliers for taking the line they have done either, it's only 6 months ago there was a big push to raise enough funds to pay off debits, [anyone know if that was achieved?].

In an ideal world the funding that has been going on this year would be for the 2011 season. I know the problems they have faced due to lack of funds but until there is a longer term plan designed to give more breathing space thus reducing the out of season crisis we will see this happening every year.

[Wedgy]

*mumble* what a load of spin *mumble*

*keeps mouth shut*

[Hungry Haggis]

I'm guessing work on the spar.. which is pretty major work - and costly.

We've been there for 558 in her worse times of crisis. This announcement should come as no surprise. We all knew one was pending , so lets knuckle down and get on with it !!!

Look on the bright side... at least it's not £1m.. by x date.

JMO

Read it as well and no it's not £1m by x date it reads like 500,000 by yesterday so they can get started .(surprised mode on)I guess the next couple will build up to the we need X amount by 3 weeks time Or no fly next year ( /surprised mode ) Oh well back to trying to screw even more out of my moneybag friends .Or even ask him up there if he will kindly let me win a large amount on the lottery

[Dee]

Im not really surprised, surely we all knew it was going to be back down to 'us' again?!

[Hungry Haggis]

Im not really surprised, surely we all knew it was going to be back down to 'us' again?!

I think it will nearly always be down to the members of the club and also those of us who are not but care enough to try keeping her in the news .Comercial Sponsors will only appear if they get their act together .

I would exepct more info to come out in the funding push.

I don't think you can blame the bankers, rules are rules, and to be fair you can't blame the suppliers for taking the line they have done either, it's only 6 months ago there was a big push to raise enough funds to pay off debits, [anyone know if that was achieved?].

In an ideal world the funding that has been going on this year would be for the 2011 season. I know the problems they have faced due to lack of funds but until there is a longer term plan designed to give more breathing space thus reducing the out of season crisis we will see this happening every year.

The funding push i guess will come in fits and starts sort of we need X amount to do this or that .I feel it is going to be a very long painfull winter being asked regularly for a bit more in small amounts which hopefully they will get so that she is ready for the begining of the season.I also guess they are not going to renew the Permit until early in the new year this time so that it doesn't run out at the begining or in the middle of the season .We live in hope .
Must find out if the public viewing Hanger tours will be on at Lyneham .I have got to see her this year in the hanger , .I need a fix .

[Nickolas]

As the peasants now probably own most of the banks, maybe the peasants should start to call a few shots then...........

As long as the bonuses are protected for the inept then all is well in the world of Banking............