THE owners of Concorde have agreed to begin discussions to decide on the future of the aircraft in the region.

The move, by owners British Airways (BA) and Airbus, comes just a fortnight after the Concorde Trust failed in its bid to secure lottery funding.

The trust had applied for a £2.9 million grant to help pay for a £9 million new home for the iconic plane, but was turned down.

Now both BA and Airbus, which has looked after Concorde at Filton since it was lent the plane in 2003 by BA, have decided to find an alternative solution.

In a joint statement BA and Airbus said: "Although in a good condition Concorde 216 has been parked outside at Filton airfield since 2003 and is clearly in need of a permanent home under cover.

"To this end Airbus and BA have agreed to enter into discussions with a number of groups that have expressed a keen interest in the future of the aircraft, in order to ascertain the best way to protect the aircraft and secure her future."

The need for a new home for Concorde became a matter of urgency when in April of this year BAE Systems announced its plans to close Filton airfield by the end of next year.

The Concorde Trust already has outline planning consent for the proposed £9 million aviation museum on land near to Cribbs Causeway but the project has struggled to find funding.

Last month Airbus pledged £840,000 towards a permanent home for Concorde, in addition to the £1.8million the company has already spent maintaining the aircraft and supporting public tours since the aircraft returned to Filton in 2003.

To date, repairs have included corrosion removal and re-protection, skin panel repairs and a general weatherproofing of the airframe.

Concorde has not been on show to the public since the end of 2010 when Airbus took it off display to complete the vital repair work.