Aer Lingus pilots based in Belfast are to vote on proposals to avert a planned work-to-rule planned to begin on Friday.
The pilots, belonging to the Irish Airline Pilots Association (IALPA), are in dispute with the company over alleged differences in working conditions compared with those based at other airports in the Republic and at London Gatwick.
A spokeswoman told The Irish Times on behalf of Aer Lingus: "An agreement was reached with IALPA at the Labour Relations Commission to resolve issues at the Belfast and Gatwick bases.
"The agreement will be put to IALPA members this week. No disruption is anticipated. The threat of industrial action has been removed."
A statement to the same effect was also posted on the airline's website.
"Customers who have already changed bookings to another date, may change back to their original planned date of travel if they so wish via aerlingus.com," it said.
"Aer Lingus apologises to its customers for the inconvenience caused to them by the recent uncertainty over our scheduled operations."
The dispute involves some two dozen pilots in Belfast who are members of Impact.
Union spokesman Michael Landers said: "In terms of Belfast, we have received an offer that falls somewhat short of our expectations. We will be putting that offer to our members in Belfast to get their opinion on it.
"We won't be giving them a recommendation on it one way or another. And it will be for the members to decide."
He said that members based in Belfast were less well paid than their equivalents in Dublin, Cork and Gatwick and this had led to a shortage of pilots in Belfast.
He told the BBC: "Our research shows that they are paying less in Belfast than competitor airlines are paying and that has led to a considerable outflow of pilots in Belfast. At the moment, they are short of about eight pilots in Belfast which means that pilots from Dublin are operating out of Belfast every single day of the week."