It will cost �1m a year to keep the ambulance flying

The helicopter, which cost more than �2.5m, will only operate with public donations and corporate sponsorship.

The Diana Princess of Wales National Air Ambulance is one of only two in the country to be staffed by a doctor and a paramedic.

Full-time fund-raiser Brian Cave said the charity needs an initial �250,000 to set up the service and �1m a year to run it seven days a week for a year.

"If everyone in Northamptonshire and Warwickshire gave us �1 a year it would keep the helicopter flying for 365 days," he said.

Paul Forster, of Sloane Helicopters, which is operating the service, said the helicopter would offer a much faster response time and had �120,000 worth of state-of-the art equipment on board.

It will be able to reach anywhere in Warwickshire within eight minutes and anywhere in Northamptonshire within 12 minutes Paul Forster of Sloane Helicopters

The Northamptonshire area has been covered by the Berkshire-based Thames Valley Air Ambulance which operates from White Waltham.

"At the moment it takes about 27 or 28 minutes for that aircraft to get here and that really isn't acceptable when you consider the whole aim of an air ambulance of is speed of response.

"The advantage of the new aircraft is that it will be based in Coventry Airport.

"It will be able to reach anywhere in Warwickshire within eight minutes and anywhere in Northamptonshire within 12 minutes."

The Agusta A109 E Power is the fastest in its class with a cruising speed of 180mph.