A majority of Qantas Airways (ASX:QAN) pilots agreed to a five-year pay deal following months-long negotiations, The Australian reported on Feb. 24.

The agreement provides pilots with zero pay hikes in 2023 and 2024 and 3% each in the next three years. The deal also includes a "pattern credit guarantee" to ensure pilots are still paid in case of a disruption.

Those who agree to the deal will also get an extra AU$5,000 payment, as well as a one-year upgrade in service, which is worth another 2.5%, according to the report.

Sixty percent of Qantas' 750 short-haul pilots supported the deal. The new agreement will take effect seven days after securing approval from the Fair Work Commission until August 2028, The Australian reported.

In a statement, Qantas chief pilot Richard Tobiano said; "We're pleased to reach an agreement with our short-haul pilots that addresses ongoing feedback around pay and rostering while providing a sustainable future for our business."

The deal was made following more than 18 months of negotiations, Tobiano added.

The Australian and International Pilots Association, which represents 85% of pilots who operate Qantas' Boeing 737 fleet, did not immediately respond to a request for comment by MT Newswires.

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