The Concorde could return to the skies for a dramatic fly-past during the 2012 Olympics in London.
Previous attempts to revive the iconic aircraft have been dismissed by British Airways.
According to the Daily Express, experts inspected the Rolls-Royce engines of one of the Anglo-French planes and found it to be in near-perfect condition.
The Air France model is based at Le Bourget Air and Space Museum near Paris.
The French Concorde, (F-BTSD), or Sierra Delta, was one of the youngest of the fleet and had been fully overhauled just three months before the planes were grounded.
Ben Lord, acting chairman of the British-based Save Concorde Group, said: "We believe that we could raise the cash by commercial sponsorship. One sponsor has already pledged one million pounds."
Concorde was the fastest way to cross the Atlantic at speeds of 1334mph in three-and-a-half hours - twice the speed of an ordinary airliner. (ANI)