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Reno air races launch fund drive to save 50-year-old event

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Updated: 11/29/2013 12:13 pm
RENO (AP) -- The National Championship Air Races has launched a worldwide fundraising campaign to try to keep alive the 50-year-old event that's been struggling with insurance costs since a deadly accident two years ago.

Reno Air Racing Association president and CEO Mike Houghton says they need to raise $500,000 by Dec. 15 to keep their operating budget functioning for the first quarter of next year.

The races' insurance premium ballooned from about $300,000 to $2 million the year after a pilot and 10 spectators were killed and scores injured in a crash at Reno Stead Airport in September 2011. The premium is still more than $1 million.

An estimated 200,000 spectators turned out last year but Houghton says they suffered a significant budget shortfall for the third year in a row.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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