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By 31 August 1973 the last of the Wings KC-135s had been transferred to other SAC Wings. By 30 October 1973 the last of the B-52 aircrews had returned to McCoy AFB and soon thereafter were transferred to other units. The base closure process was started in November 1973 and on 1 July 1974 the 306th Bombardment Wing and its components were inactivated and the 4041st Air Base Squadron completed the closure of McCoy AFB.
On 15 August 1976 the 306th was activated once again as the 306th Strategic Wing (SAC), Ramstein AB, Germany. The 306th SW assumed operational control for SAC air refueling and reconnaissance resources in the European Theater. On 1 July 1978 the 306th SWs headquarters moved to RAF Mildenhall, England. For most of this period the 306th SW operated KC-135s and RC-135s from RAF Mildenhall, Zaragoza AB, Spain and Hellinikon AB, Greece. In 1985 KC-10s were assigned to Zaragoza. The 306th supported air refueling requirements for a variety of aircraft in the European Theater including EC-135s, RC-135s, E-3As, F111s, F-4s, MK6s (RAF Lightening aircraft), C-141s, KC-10s, B-52s, B-1s, SR-71s and C-5s. The 306th SW operated at RAF Mildenhall until 1 February 1992 when the 100th Air Refueling Wing (USAFE), assumed the 306th SW responsibilities and became Headquarters European Tanker Task Force.
Thus ended, for now, the distinguished 306th designation in the United States Air Force. The significant accomplishments of the 306th, starting on 1 March 1942, and continuing for fifty years through a World War, the Cold War, the Vietnam War and strategic refueling and reconnaissance support to the Air Force and Department of Defense, are cause for all who served in the 306th to be extremely proud.