The service had been in doubt after negotiations with Manx Care initially stalled.
The Great North Air Ambulance says it's confident its service will be maintained on the Island going forward.
Doubts had been cast when negotiations with Manx Care stalled over its funding.
However, both parties have now agreed to a new contract which will see its services continue for a further 12 months.
Interim Chief Executive of the charity, Joe Garcia, says he's optimistic about the future of the relationship beyond that:
Firearms amnesty comes into effect
Chickenpox jab to become part of routine childhood vaccinations
Hark! Claims school didn't allow Christmas carols to be sung "rumour" and "hearsay", says minister
Education minister defends attempt to reopen schools for a half day on snow day
Senior lecturer struck off nursing register after groping student