Newquay Airport, which is used by Skybus, has been awarded an ?8 million grant from the South West Regional Development Agency (RDA).
The RDA will invest the money towards maintaining the airport and developing regional services, including links to Scilly and London.
The grant appears to safeguard its future after the Ministry of Defence (MoD) announced it was withdrawing from RAF St Mawgan, the airport’s site, next year.
The RDA said it decided to make the investment because the airport was key to the economic regeneration of Cornwall.
The number of passengers moving is set to top 400,000 this year, but the council is aiming for one million.
On a less positive note, a plane was forced to make an emergency landing at the airport last week when a wheel fell from the undercarriage after take-off.
The Air Southwest flight to London Gatwick had just left the runway. All 33 passengers and four crew were taken off the plane without injury.