Year three of Wings Over Wiscasset has been canceled due to revenues falling short of the event’s costs, according to a Wiscasset Area Chamber of Commerce official and a press release from the event’s planning committee.

In its first two years in 2013 and 2014, the event at Wiscasset Municipal Airport honored veterans and put on an air show and other historical and educational programs.

The event began as a town-organized event and had transitioned to being a chamber event. Organizers announced months ago that planning for the third year involved a change to charging for the event, except that veterans would still get in free; plans at the time continued to include an air show and honoring veterans.

But with the Texas Flying Legends no longer housing planes at the airport, event costs were rising, according to Monique McRae, vice chairman of the chamber’s board of directors.

“Sponsorships just weren’t coming in fast enough in order to cover the expenses that (there) would be,” McRae said in a telephone interview June 15.

The cancellation decision regarded this year’s installment and does not rule out the possibility of Wings returning at some point, if a large sponsor came forward or a future board of the chamber decides to try again, McRae said.

The event would have cost about $75,000 to put on this year, Wings’ event coordinator Hilary Tounge said Monday. Asked how much the total sponsorship fell short, she declined to give a figure.

“Quite a bit (short),” she said.

“It was just a very, very young event, and didn’t have the finances as a startup,” Tounge said.

Wings premiered in 2013 with numerous donated performances and a turnout of about 5,000 people; some performances were donated again in 2014 and attendance set a new record of about 7,500; but, the donated performances were aimed only at launching the event, not recurring on an annual basis, organizers have said.

“I think it’s a sad loss to Wiscasset and the surrounding towns,” Wiscasset Municipal Airport Manager Frank Costa said Monday.

The airport had been getting calls from veterans, other area residents and people who will be visiting the area this summer, asking for the date and time for this year’s Wings Over Wiscasset, Costa said.

“It’s one of the things they were looking forward to. They got used to it, so I think they will be pretty upset now,” he said.

William Cossette Jr., commander of American Legion Post 54 of Wiscasset, said he was not very surprised at news that the event was canceled. He had already been informed that the post’s breakfast fundraiser, held in year two of Wings, was canceled for this year, he said.

The post declined event organizers’ proposal to hold the breakfast at another location during Wings, perhaps at Wiscasset Community Center, Cossette said.

The point of scheduling the breakfast for the same time as the event was to have it at the event, he said.

Tounge explained Monday that trucks and planes would have been setting up just as the breakfast was taking place, raising both safety and liability concerns.

Tounge, the daughter of a veteran, said she did not have a lot of hope that Wings will return. “It’s a great thing to do to honor veterans,” she said.

But the challenge came in establishing it to a point where more sponsors would come aboard.

“This was a pretty new thing for the area,” Tounge said.

A press release Monday from the Wings planning committee discusses the event’s cancellation.

“Like any business, the Wings over Wiscasset ... event planning committee must continuously review budgets, current and anticipated revenues along with all expenses. Having spent a considerable amount of time working on this and watching the expenses add up without reciprocal revenues, the event planning team has decided that it is not prudent to continue with this event.

“While we worked hard to honor veterans, support local businesses, and bring additional revenue into area towns, there just isn’t enough community support to continue,” Monday’s release states. “We are indeed so very grateful for the support that has been shown us thus far. A big ‘shout out’ to ... The First, Wiscasset Ford, Lowe’s Home Improvement, Davison Construction, Dave Cleaveland and Maine Imaging, KIWI hangar owners, the town of Wiscasset, Wiscasset Municipal Airport, Big Al’s, Total Victory Ice Cream, Chewonki Foundation and Chewonki Campground.”

Some of the sponsorships were planned in-kind donations to help with the event, Tounge said; checks that were received will be reimbursed, she said.