The Classic Buses, Beer and Walks Weekend planned for October has been cancelled.
It is the second year the popular event has been cancelled due to coronavirus.
Organisers say it takes many months of detailed planning and there are still too many uncertainties.
It is hoped that the event can return in 2022 as it contributes significantly to the Isle of Wight economy.
Ben Bartram, the principal organiser for the IW Bus Museum, said:
“This is a carefully considered decision. We have been talking to key stakeholders in recent weeks, including the vehicle owners who provide the classic buses. The consensus is that we cannot risk significant outlay of both funds and voluntary organisers' time, as we cannot be confident of being able to put the necessary infrastructure in place. The normal timescales for planning the event simply cannot be followed”.
Tim Marshall of IW CAMRA said:
“We realise that many will be disappointed with the decision. However, although we now know that restrictions will ease for pubs and other licensed venues soon, we have had to decide now”.
Both the IW Bus Museum and IW CAMRA are considering much smaller events later this year if circumstances allow.