According Sky News, the jumbo jet will also be used as a conference venue, museum and visitor attraction when it goes on display at Cotswold Airport, near Kemble, next spring.
A percentage of the money that will be made from these events will be rightly donated to charities and a scholarship programme run by Cotswold Airport.
The G-CIVB Boeing 747 first entered the British Airways fleet in February 1994 and made its last passenger flight on 6 April – in this time it has flown nearly 60 million times.
The passenger plane which is one of two Heathrow-based 747s used by BA that departed on retirement flights earlier this month.
Sean Doyle, The Chief Executive Officer at BA, said, “It was with great sadness that we retired our two final 747s based at Heathrow earlier this month, so we’re glad Cotswold Airport is able to give one of these aircraft a new home and a new lease of life.
“The 747, and the Negus livery, are iconic in BA’s past, and we hope locals and visitors will enjoy seeing this slice of history for years to come.”
Cotswold Airport Chief Executive Suzannah Harvey, said, “It is great news for locals and visitors who will be able to see and experience one of the most iconic passenger aircraft of its time.
“We’re absolutely delighted to make this happen following its final flight from London Heathrow to Cotswold Airport on 8 October.”