Three parcels of the suspected drug were found hidden behind a panel of a toilet on a decommissioned plane by Air Salvage International (ASI).
The 2Kg (4.4lb) packages were discovered at Cotswold Airport in Kemble, Gloucestershire, on 18 October.
Wiltshire Police said they were waiting the results of forensic analysis.
A police spokesman said the hidden packages, each measuring 20 cm by 13 cm (8 in by 5 in) were found "well wrapped in plastic and black gaffer tape".
"We searched the rest of the plane and put a drugs dog through but actually the dog didn't seem overly interested in the packages," he said.
"But they were well wrapped and with the test we did on the powder at the station - we decided to send it for forensic analysis.
"We're waiting for the results before we start trying to trace where the plane came from."
Air Salvage International (ASI) has declined to comment.
A haul of what is believed to be cocaine with a street value of £120,000 has been uncovered by engineers dismantling a scrapped jumbo jet.