I tried some settings, but this doesn’t display.
Thank you
Old 2.5 blend file for the game engine texture doesn't display in a more recent blender version 2.78
do have the files ?
I downloaded it from blend swap.
“Simple Helicopter” by hjmediastudios
I think I can upload the blend on here.
hjmediastudios_copter1.blend (2.2 MB)
There are only two available, this seems may be useful. 
Render Tab → shading: enable glsl
Lots of things get changed in Blender from one version to the next. As a result, blend files done in older versions are often peppered with errors.
As an example, the mix node was changed without notice around 3.x some time, not sure when. Files built before that time, when opened in more recent blender versions, will have broken textures as a result.
These changes are often not announced, nor are there always warnings that something has gone wrong in the file. Also, python itself was majorly upgraded at some point, causing loss of backwards compatibility of blender versions. When you discover these problems, you have to work your way through the whole project to try and track down any issues.
Best is to open files using the version they were created in. Yes, that causes issues with long term projects, but such is the nature of software that is updated a lot. It was also one of the reasons for the introduction of LTS versions used in production houses.
It can be a headache for the unaware!
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OP is already using old version and his problem is only that it doesn’t show correctly when pressing “p”.
He only has to enable glsl.
Render Tab → shading: enable glsl
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it’s common to have problems from older .blends into newer ones. I use basically nothing but 2.78a and your best bet is this:
ooooh I literally thought it failed to bring the texture in 
really wishind I’d read your post before making my own.
lol, it’s ok, now we have solutions for all kinds of problems that might happen.