OTTAWA, Ontario, Sept 15, (AP): Air Canada and the union representing its pilots have come to terms on a labor agreement that is likely to prevent a shutdown of Canada’s largest airline. Talks betwen the company and the Air Line Pilots Association produced a tentative, four-year collective agreement, the airline announced in a statement early Sunday.

The prospective deal recognizes the contributions of the pilots flying for Air Canada and Air Canada Rouge while setting a new framework for company growth. The terms will remain confidential until ratification by union members and approval by the airline’s board of directors over the next month, the airline said.

The pilots association said its Air Canada Master Executive Council voted to approve the tentative agreement on behalf of more than 5,400 Air Canada pilots. After review and ratification by a majority of members, the deal is expected to generate an additional $1.9 billion for the pilots over the period of the agreement, the union said in a statement.

"While it has been an exceptionally long road to this agreement, the consistent engagement and unified determination of our pilots have been the catalyst for achieving this contract,” Charlene Hudy, the executive council's chair, said in the statement. "After several consecutive weeks of intense round-the-clock negotiations, progress was made on several key issues including compensation, retirement, and work rules."

Federal Labor Minister Steven MacKinnon confirmed the agreement on Sunday and lauded the company and the union. "Thanks to the hard work of the parties and federal mediators, disruptions have been prevented for Canadians,” MacKinnon said in a statement. "Negotiated agreements are always the best way forward and yield positive results for companies and workers.”

The airline and its pilots have been in contract talks for more than a year. The pilots have sought wages competitive with their US counterparts, but Air Canada continues to post record profits while expecting pilots to accept below-market compensation, the union said.