text: Between 1996 and 2012, the town hosted a major air show during the summer, dubbed the Lowestoft Airshow. A major attraction, the two-day event took place in August, and featuring a wide range of aircraft including the Red Arrows, a Lancaster bomber, Spitfires and an Avro Vulcan. From 2004, it was run by Lowestoft Seafront Air Festival Ltd, a non-profit company, but suffered financial difficulties. In 2010, the event made a loss of £40,000 and raised concerns over its sustainability, whereupon further financial difficulties coupled with bad weather and low visitor numbers made the 2012 airshow the last before it was discontinued.
  Near the town centre is Lowestoft Maritime Museum, open from late April to late October, which has exhibits of maritime artefacts, an extensive collection of ship models and medals, marine art, fishing and the fishing industry, activities with the Royal Navy in WWII, and shipwrights' and coopers' tools.
  Redevelopment
  Lowestoft is among the more socially deprived areas in Suffolk, with Kirkley the county's most deprived ward, ranking 173rd most deprived in England out of 32,486. The area attracted European Union redevelopment funding. The Waveney Sunrise Scheme invested £14.7 million, funding transport improvements and tourist facilities such as fountains on Royal Plain, as stimulants. Regeneration company 1st East, which focused on the Lowestoft and Great Yarmouth areas, closed in 2011.