By the mid-1990s, the ageing 707s carrying Australian VIPs overseas were no longer compliant with foreign noise and emission regulations. No. 33 Squadron relinquished its VIP transport role in 2002, following the entry into service of No. 34 Squadron's Boeing 737 Business Jets and Bombardier Challenger 604s. The squadron was awarded the Gloucester Cup in May 2007, "in recognition of its high levels of proficiency demonstrated over the year" in spite of the challenges of operating the obsolescent 707s, and for having "performed superbly on a number of high-profile missions". The 707s were retired in 2008, bringing to an end the 29-year operational history of the type in the RAAF. The last one in service, an ex-Qantas jet named "Richmond Town", made a low-level farewell flight over Sydney on 30 June in the company of smaller aircraft filming the occasion, which gave rise to fear in some quarters that a 9/11-style terrorist attack was in progress. Three 707s remained at Richmond until 2011, when they were flown out by their new operator, the US-based Omega Air Services; Omega also procured the RAAF's Boeing simulator, which had been operated by No. 285 Squadron.