Dawlish did, successfully for several years.
But with a committee of just 3 people (with a handful of others helping in specific roles and volunteers who come out for the day to marshal etc) it's a heck of a commitment.
During the last year it took place one of those 3 decided that their business needed to take precedence, another developed significant health issues and the final one decided that after lots of years it was time to finish.
The idea of a joint airshow was never going to work, for many reasons (including the problems of finding enough volunteers for 2 locations).
It will be interesting to see the feedback after the weekend and if they get enough money to take it forward for another year.
Incidentally - Dawlish never got any money from Teignbridge other than small amounts from Councillors grants.