© Joe Petric
In January 1963, Alan Pegler bought Flying Scotsman. As part of the deal, Pegler negotiated a complete overhaul of the locomotive. It was converted back to single-chimney condition and repainted in LNER livery. In 1969 Flying Scotsman headed to the United States on a tour intended to promote British exports. The tour broke even in its first year, but the second lost money. In a bid to balance the books, Pegler arranged for the train to travel to San Francisco. The trip worked well operationally but was a financial disaster. Alan Pegler was forced into bankruptcy and Scotsman was stranded in the USA.However, in 1973 Flying Scotsman was brought back to the UK after William McAlpine heard about the situation in the USA. He promptly put together a rescue plan, paying off the creditors and buying the locomotive.In 2004, Flying Scotsman hit the headlines again with yet another crisis over its ownership.A campaign spearheaded by the National Railway Museum to save the locomotive for the nation amassed the support of thousands, confirming its status as a national treasure. The appeal to keep the steam icon in Britain was supported by a ﾣ1.8 million grant from the National Heritage Memorial Fund and the generosity of the public. Its restoration was also completed with the help of a Heritage Lottery Fund grant of ﾣ275,000.
The Flying Scotsman at Joliet, Illinois, alongside a Zayre store, en route to San Francisco in 1971.