It is a children's song. Here, from memory, is the Irish Rovers' version, as best as I can recall.

Others may correct me or fill in the blanks, as it has been a while. The song definitely says London Airport; there is one in London Ontario but I assume they mean London, UK, where I know of no such airport.

THE BIPLANE 'EVERMORE'

Way out in London Airport, in hangar number four,
A lonely little biplane sat whose name was Evermore.
His working days were over, and no more would he sail
On his wings, above the clouds, flying the Royal Mail.

CHORUS: Bye, bye, biplane, once upon a sky plane.
Bye, bye, hush a bye, lullaby ----------------.

All the mighty jet planes would look down their nose.
They'd laugh and say, "Oh, I'm so glad that I'm not one of those."
And Evermore would shake away a teardrop from his wing
And dream of days when he again could do heroic things.

(Chorus)

Then one day the fog and rain had closed the airport down,
And all the mighty jet planes stood helpless on the ground.
A call came to the airport, to fly a mercy flight.
It could not wait. It would be too late. Someone must fly tonight.

So they rolled the little biplane onto runaway number five,
And though he looked so small and weak he knew he would survive;
And as he rose into the fog the big jets --------
As the lonely little biplane once more did mighty deeds.

And so, me biddy bundle, I have spun a tale for you.
You must learn there's nothing in this world you cannot do
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Remember Evermore, and set ---------------------------------------

(Chorus)