The Vulcan XH558 took its first flight on 25 May 1960 and was originally built to carry nuclear weapons but was only ever used as a nuclear deterrent.
The bomber retired from service in 1993 and is the only one left of the 134 that were built for the Royal Air Force.
The last airworthy Vulcan bomber will fly for the final time next in 2013, the trust which funds the aircraft has confirmed.
The XH558 has been based at South Yorkshire’s Robin Hood Airport since March 2011 after the RAF Lyneham base closure was announced.
It has been decided that “challenging modifications” to both wings would not be sustainable to the old aircraft.
The Vulcan to the Sky Trust said it decided not to fund the repairs.