"The Red Bull Air Race is committed to keeping Portugal on the race calendar, however, due to the delays in finalizing the agreement, we were faced with making a tough decision to cancel the race for 2010 due to the time available to plan and execute a quality event." said Mr Bernd Loidl, CEO Red Bull Air Race GmbH.

"Making such a decision is not easy and I would like to take this opportunity to thank our valued sponsors, broadcast partners and fans around the world for their support and understanding.  I would also like to thank the Cities of Lisbon, Porto and Gaia, along with Tourism of Portugal and Tourism of Lisbon, as every effort was made from all sides to reach a revised agreement; however, time simply ran out.  We hope to continue discussions to see the race return to Portugal again in the near future," Loidl said.

Just five years since it was officially launched, the Red Bull Air Race World Championship has evolved to become the most exhilarating and fastest growing motor sport on the planet and has touched down in spectacular locations around the world from the beaches of Rio de Janeiro to the West Coast of Australia, and most recently its debut in New York on the Hudson River.