Ryanair Holdings says threatened strike action tomorrow has been called off following discussions with the Dublin Pilots’ Committee.
The airline has negotiated a new agreement with the committee, which will be put forward to Ryanair’s pilots for acceptance before November 30.
The new agreement incorporates a five-year pay deal where the annual increases in pilots’ pay will be guaranteed at 3 per cent, and pilots will be granted share options over Ir£100,000 worth of shares in Ryanair stock at a November strike price of 10 euro.
The pilots will also receive increases in their flight allowances and loss of licence insurance cover.