The Shoreham Airshow will not go ahead this year after a crash killed 11 and injured more than a dozen at last year's event.
The decision to cancel the annual display was taken out of respect for those affected by the crash, but also in view of the probe into the incident, the organisers said.
The Air Accidents Investigation Branch is examining what caused a vintage Hawker Hunter jet to crash on to the A27 in West Sussex on August 22.
Shoreham Airshow Ltd said it remained "fully committed" to the investigation and there had been "careful consultation and consideration" given to whether any display should go ahead this year.
The organisers said: "The decision has been taken primarily out of respect for all those affected by last August's tragedy and also in view of the ongoing Air Accidents Investigation Branch investigation – and any review of their regulations that the Civil Aviation Authority may subsequently undertake.
"We understand that this decision may be disappointing for many who have been part of the extended Shoreham Airshow family over the years.
"We would like to thank everyone who has supported the air show for the last 26 years, particularly local volunteers and the surrounding community."
The company said it would consider if an event should take place in 2017 "when and if it is appropriate to do so".
It continued: "In the meantime, we continue to be fully committed to assisting the Air Accidents Investigation Branch with their ongoing investigation.
"The thoughts and deepest condolences of everyone at Shoreham Airshow Ltd remain with all of the victims of the tragedy."
The disaster was the deadliest at a British airshow since the 1952 Farnborough crash when a de Havilland DH.110 hit spectators, killing 31.
New rules covering vintage aircraft were brought in by the Civil Aviation Authority following the Shoreham air crash in August but these only relate to air display
The pilot of the Hawker Hunter, Andrew Hill, 51, from Hertfordshire, was voluntarily interviewed under caution by officers from the Surrey and Sussex Major Crime Team in connection with last year's accident.
He was thrown clear from the 1955 fighter-bomber and suffered life-threatening injuries but was discharged from hospital in September.