Qantas pilots call off strike

After 18 months of negotiations, Qantas has reached an agreement with unions on a new wages deal for long haul pilots. The agreement with the Australian International Pilots' Association allows for a three per cent yearly wage rise until 2013.

"This is a significant agreement that locks in the company's three per cent per annum wages policy for a further five years,' said Geoff Dixon, Qantas' chief executive.

In a new employee reward scheme all Qantas pilots will now have part of their salaries linked to the company's performance.

"Under this new agreement, the difference between the three per cent per annum wage increase and CPI (consumer price index), along with a proportion of overtime payments, will be paid out in a similar way to executive bonuses,' Mr Dixon said.

These new employee benefits “finalise the pay arrangements for the launch of the (Airbus) A380 aircraft later this year, with multiple pay rates rationalised and new rules on career progression that will reduce the cost of training associated with pilots moving between aircraft types,' Mr Dixon said.