RENO, Nev. (MyNews4.com & KRNV) -- The National Championship Air Races are on this summer. The event is expanding its product to ensure financial sustainability going forward.
For 2014, the event will look more like a festival with daily concerts, added races and military aircraft displays. The goal is to engage a younger crowd, both locally and nationally. Financial support from casinos and tourism agencies is enough for the air races to pay off an insurance premium of $900,000.
"We have participants from around the world," said Chairman Mike Major. "We have a fan base from around the world and we think it is important for the future of aviation for the young kids to understand how important aviation is."
The Air Races needed insurance costs to fall under $1 million to put on the event this summer. After the 2011 air race crash, insurance totaled $1.25 million last year and just over $2 million in 2012.