The English Riviera Airshow will remain a two-day free-for-all display after councillors voted in favour of expanding the show.
It has been running in Torbay since 2016, and will continue in 2024.
Torbay Council’s leader had said major changes needed to be made about how the show was funded and there were talks of cancelling the event altogether.
However at a meeting on Tuesday the council favoured expanding the show and keeping it free of charge.
Speaking at the meeting of the council’s cabinet, deputy leader Conservative councillor Chris Lewis said: “I would like to see it become the people’s airshow, a bit like Teignmouth, where the council has no involvement and it is community-led.