The jet has been at Filton since 2003 and was closed to the public in October 2010 for maintenance A bid for £2.9m towards building a museum to house the last Concorde to fly has failed.
But the Concorde Trust said it remained positive about the £9m project in Bristol despite being turned down by the Heritage Lottery Fund (HLF).
The museum was given a £840,000 cash boost by Airbus last week.
Trust chairman Mike Littleton said: “Although the HLF decision is a setback, we remain determined to make this project a reality.”
Plans for the museum at Cribbs Causeway were first submitted in 2007 but building work has never started because of a lack of funding.
Mr Littleton said he did not see the HLF failure as a blow to attracting other investors and that the vision was still to open the museum in 2014.
He said the trust was evaluating feedback from the HLF with a view to resubmitting its application in the near future.
It is also pursuing other major sources of funding.
“This is one of the cradles of aviation in the UK”
Mike Littleton Concorde Trust chairman
“We now need some time to review and decide our next steps, but remain confident,” Mr Littleton said.
“Our professional team delivered a first class bid to the Heritage Lottery Fund with a project that was exceptionally well researched, financially sustainable and, we believe, met the funding criteria.
“Given the overwhelming support we received from the general public, local government, industry and education, we are confident that we can deal with the issues and succeed with our ambitions.”
Mr Littleton said feedback from the HLF was that requests for funding had been three times greater than the amount available and that he did not think the plans were too ambitious.
“This is one of the cradles of aviation in the UK, the only one with a history of continuous industrial production and it remains a world-class centre of aerospace innovation,” he said.
“With the announced closure of Filton Airfield it is even more important that we have a major museum acting as a permanent legacy to celebrate a century of aviation heritage and inspire the next generation of scientists and engineers.”
The jet has been at Filton since 2003 and was closed to the public in October 2010 for maintenance.
BAE Systems, which owns Filton Airfield where the jet is based, is to close from the end of 2012, meaning a new home will soon have to be found for the jet.
The plane – called Concorde 216 or Alpha Foxtrot – was the last of the fleet to fly when Concorde was withdrawn from service by British Airways in 2003 due to increased running costs.
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