Mark and Kerry Bright have said they were still positive this morning, but after assessing the grounds were advised not to go ahead - especially as most of the infrastructure setup is powered.

‘‘Last night we received another 25mls of rain ... Unfortunately it is impossible to postpone an airshow, it must be cancelled,’’ read a Facebook statement from event co-ordinators Mark and Kerry Bright.

‘‘It takes time to obtain the approvals through the Civil Aviation Safety Authority for one particular date. Defence Force assets are applied for 2 years in advance for one particular date. ...We are so sorry and really wish that this was not the case. We are all devastated.’’

The cancellation follows disappointment at last year's festival when strong crosswinds prevented the majority of aerobatic displays. In 2014 only a handful of fighter jets powerful enough to contend with the weather performed - prompting complaints from patrons about the ticket prices.

Mr and Mrs Bright are currently in talks with their ensurers, moving their focus to planning 2016’s show.

People who have bought pre-sale tickets online will be contacted and reimbursed.

The NSW Government had expected the two-day festival to reap major economic and tourism rewards for the State.

Meanwhile there is good news for aviation enthusiasts with the Historical Aircraft Restoration Society remaining open despite the cancellation of the Wings Over the Illawarra Air Show.

HARS spokesperson Mike Delahunty said the canning of the show has been a ‘‘disaster’’ and ‘‘very disappointing’’.

However rain won’t bother the society which has 13,000 square metres of hangar roofing, and several planes to keep people under cover, such as a 747, F1-11 and Mirage fighter jets, Catalina Flying Boat, Neptune and an ex-military Dakota aircraft.

‘‘We’ve been planning for [the air show] for several months,’’ said Mr Delahunty. ‘‘We think there’s a lot of people who have come to visit the Illawarra with accommodation booked out, so we want to stay open.’’

For more information go to http://hars.org.au/

BREAKING: Wings Over Illawarra Air Show has been cancelled for this weekend due to the wet weather. The heavy rain has rendered the airfield unusable and unsafe.

‘‘We were positive as of this morning .. but looking at the state of the grounds, we’ve been advised not to go ahead,’’ said a spokesperson for the airshow. 

‘‘All of the infrastructure set-up around the airport is powered, making it very unsafe for patrons walking around.’’

The cancellation follows disappointment at last year's festival when strong crosswinds up to 100km/h prevented the majority of aerobatic displays. 

In 2014 only a handful of fighter jets powerful enough to contend with the weather performed - prompting complaints from patrons about the ticket prices.

Organisers have said they’re currently in talks with their insurers but won't reschedule the event, instead turning the focus on 2016’s show.

People who have bought pre-sale tickets online will be contacted and reimbursed.