By Jenni DixonTHE new organisers of a town's air show hope make the two-day event bigger and better over the next three years.European funding ended at this year's eighth annual Lowestoft Seafront Air Festival, forcing its organiser, Waveney District Council, to ask visitors to contribute £1 to keep the event going.

By Jenni Dixon

THE new organisers of a town's air show hope make the two-day event bigger and better over the next three years.

European funding ended at this year's eighth annual Lowestoft Seafront Air Festival, forcing its organiser, Waveney District Council, to ask visitors to contribute £1 to keep the event going.

Now a non-profit making company, named after the event and composed of business volunteers, is being formed to organise the event in conjunction with the council over the next three years.

It plans to approach all businesses in the town for sponsorship, give residents the chance to donate funds at collection points and apply for grants from other organisations to raise the £230,0000 needed to stage next year's festival on July 28 and 29.

Lowestoft-based events organiser, Bruno Peek, will be the spokesman for the company, which also includes Graham Cooke, general manager of the town's Birds Eye/Unilever factory and businessman Paul Bayfield.

Mr Peek said: “We want to increase our budget to £300,000 in 2006 and up to £325,000 in 2007. We feel very strongly that it belongs to the people of Lowestoft. We want to show the rest of the country what our community can achieve.”

He added the name of the festival would remain because it had become such a successful brand - it is thought visitors to Lowestoft plough £9.3million into the local economy during the event.

Waveney District Council has already agreed to underwrite the event up to £40,000 should voluntary donations be insufficient and work on a plan to hand the festival over to the new company by 2008.

jenni.dixon@eadt.co.uk