Originally called the Flight of the Snowbirds named for the wooden boats participating in the race, the event was renamed Flight of the Lasers in 1975 after organizers decided to replace the aging, wooden crafts with more modern, fiberglass boats, known as Lasers. The Lasers were seen in small boat races at the time including in the Olympics. In 2020 the race was again renamed, the Flight of Newport, to be more inclusive, opening entries to ILCA (formerly known as Lasers), Harbor 20 and Tera RS boats.

The Flight of Newport will begin at 1 p.m. near the Balboa Pavilion and it will take about 90 minutes to complete the course, which circumvents the entire bay. The first-place winner in the ILCA fleet will receive the Albert Soiland Trophy, named after the first Commodore of the Newport Harbor Yacht Club along with a new sail provided by Vela LA. Additionally, racers can compete to get their names on other trophies for the ILCA class: First Girl, Youngest Boy Skipper, Youngest Girl Skipper, Oldest Skipper, First Married Couple, Best Decorated Boat, and Best Costume.