It had earned considerable fame in preservation under the ownership of, successively, Alan Pegler, William McAlpine, Tony Marchington, and, since 2004, the National Railway Museum.

4472 became a flagship locomotive for the LNER, representing the company twice at the British Empire Exhibition and in 1928, hauled the inaugural non-stop Flying Scotsman service.

[3] In February 1924 the locomotive received its name after the LNER's Flying Scotsman express service between London King's Cross and Edinburgh Waverley, and was assigned a new number, 4472.

[4] Flying Scotsman became a flagship locomotive for the LNER, representing the company at the British Empire Exhibition at Wembley Park in 1924 and 1925, and was frequently used in promotional materials.

[6] The non-stop runs were achieved with an upgraded tender which held an extra long ton of coal and fitted with a corridor connection, so a change of driver and fireman could take place while the train was moving.

[7] On 30 November 1934, Flying Scotsman became the first steam locomotive to reach the officially authenticated speed of 100 mph (161 km/h),[8][9] while hauling a light test train between Leeds and London, and the publicity-conscious LNER made much of the fact.

Following the success of Gresley's streamlined Class A4s introduced in 1935, Flying Scotsman was relegated to lesser duties but still worked on the main line and hauling passenger services.

In December 1958, the locomotive was fitted with a double Kylchap chimney to improve performance and economy, but it caused soft exhaust and smoke drift that tended to obscure the driver's forward vision.

[24][25][26] On 14 January 1963 Jack Peckston of Copley Hill drove the Flying Scotsman for its final service with British Railways, hauling the 13:15 from London King's Cross to Leeds with the locomotive coming off at Doncaster.

[42] Following an overhaul on the locomotive in the winter of 1968–69, Wilson's government agreed to support Pegler running Flying Scotsman in the United States and Canada, hauling a 9-coach exhibition train to promote British exports.

To comply with local railway regulations, it was fitted with a cowcatcher, bell, buckeye couplers, American-style whistle, air brakes, and high-intensity headlamp.

[43] The first leg began in October 1969 with a run from Boston, Massachusetts to Atlanta, Georgia via New York City and Washington, D.C., and on to Slaton, Texas, where it paused for the winter.

[44][23] Despite a successful start, the tour ran into problems as strict anti-steam laws in some states deemed the engine a fire hazard, and either denied permission to run or required the train to be towed by a diesel or electric locomotive.

[22] In 1972, Flying Scotsman earned money running passenger trips on the San Francisco Belt Railroad and was put on show at Fisherman's Wharf.

McAlpine agreed and within a few days dealt with the attorneys, paid the outstanding debts owed to the local American and Canadian railways, and bought the locomotive for $72,000 (around £25,000).

[51] In December 1977, Flying Scotsman entered the Vickers Engineering Works in Barrow-in-Furness for heavy repairs, including installation of an unused replacement boiler.

In 1984, it became the first preserved steam locomotive to haul the Royal Train on the British mainline, taking The Queen Mother to the official opening of the North Woolwich Old Station Museum.

On 23 February, entrepreneur Tony Marchington, already well known in the steam preservation movement, bought the locomotive, a set of Pullman coaches, and the Southall depot for £1.5 million.

[67] It received an upgraded 250 psi boiler originally made for a Class A4; its vacuum brakes replaced with an air type; its livery repainted in LNER Apple Green; the smoke deflectors removed; the double chimney restored; and renumbered 4472.

After floating on OFEX as Flying Scotsman plc in the same year,[69] in 2003 Edinburgh City Council turned down the village plans, and in September 2003 Marchington was declared bankrupt.

[74] Flying Scotsman plc CEO Peter Butler announced losses of £474,619, and with a £1.5 million overdraft at Barclays Bank, stated that the company only had enough cash to trade until April 2004.

[74] In February 2004, a debt agency acting on behalf of Flying Scotsman plc announced it would hold a sealed bid auction for the locomotive, to be held on 2 April.

[75] Amid fears it could be sold into foreign hands, the National Railway Museum (NRM) in York announced it would bid, and appealed for funds with a Save Our Scotsman campaign.

From September 2004 until May 2005, it sat at the NRM's workshop for a heavy intermediate repair, the intention being to improve reliability and allow operation until its general overhaul and restoration.

[75][78] The works were on view for visitors at the NRM, but the engine was rapidly dismantled to such an extent that the running plate was the only component recognisable to the casual observer.

[75] By 2009, with further problems encountered including misaligned frames and a cracked cylinder, plus rising metal prices, the museum launched the SOS ("Save Our Scotsman") appeal, seeking to raise a further £250,000 with the aim of completing the work by the end of the year.

It found that the museum had greatly underestimated the work required due to the locomotive's poor condition, much of which was missed by a rushed inspection which produced an overly optimistic assessment.

[96][97] In celebration of turning 100 in February 2023, Flying Scotsman took part in various events between March and December including static displays, runs on the mainline, and visits to heritage railways.

[99] Royal Mail produced a set of stamps designed by David Gentleman, which were the last to feature a silhouette of the late Queen Elizabeth II.

[116] Flying Scotsman makes a full appearance in the CGI film Thomas & Friends: The Great Race (2016),[117] where it is voiced by Rufus Jones in both the UK and US dubs.