The 'Aerial Derby' Air Race round London began in 1912; the race held in 1919 (the 'Victory' Derby) was actually the fourth.It had substantial prizes - although never quite enough to attract the intended overseas competitors - and many of the leading aviators of the time competed.

There were always separate prizes for outright speed, and performance versus a handicap.To begin with, Flight thought it was "quite the most effective race of the year" - "It is no exaggeration to say that millions of people see the race, talk about it for days before it is flown, and discuss it for days after it has become a memory".

However, by 1922 they thought that "this year's race was even duller than last year's". The race had degenerated into a purely national affair, and become rather predictable - the same aircraft won the Speed Race 3 years in a row, and in 1923 the 9 machines finished in exactly the order predicted by the handicappers.

It was abandoned in 1924 and effectively amalgamated with the King's Cup (which had started in 1922).

Occasionally, the Royal Aero Club would float the idea of reviving it, but it never happened.