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Qantas Airways Ltd (ASX: QAN) shares climbed on Thursday after the airline reached an in-principle agreement with its long-haul pilots' union, reducing the immediate threat of industrial action that could have disrupted international flights. Investor confidence improved as the agreement removed a key uncertainty ahead of the busy travel season.
Qantas stock rose as much as 0.5% to A$10.65 during trading, after touching an intraday high of A$10.76, its strongest level since June 26. The gain outpaced the broader S&P/ASX 200 index, which advanced 0.3%.
The proposed agreement covers approximately 1,700 long-haul pilots represented by the Australian and International Pilots Association (AIPA). These pilots operate the airline's Airbus A380 and A330 fleets, along with Boeing 787 aircraft used primarily on international routes. Short-haul pilots remain under a separate enterprise agreement.
Earlier this week, long-haul pilots voted in favor of protected industrial action, including 24-hour work stoppages and delayed sign-ons, after months of negotiations over wages and working conditions. The vote raised concerns about potential disruptions to Qantas' international network.
Following discussions at the Fair Work Commission, AIPA confirmed that both parties had reached broad agreement on key issues and expressed confidence that a formal deal could be finalized in the coming days.
Qantas welcomed the in-principle agreement, saying it includes substantial pay increases, improved rostering arrangements, and greater career progression opportunities for pilots while supporting the airline's long-term operational needs.
The agreement is expected to provide greater stability for Qantas' international operations during a peak travel period, easing concerns among passengers and investors alike. However, labor negotiations are not yet fully resolved. A separate union representing around 650 Qantas ground workers has announced that its members will soon vote on whether to pursue industrial action, meaning labor relations will remain a key issue for the airline.
With the latest breakthrough, investors will continue monitoring Qantas' labor negotiations and operational performance, as both remain important factors influencing the outlook for ASX: QAN shares.
