Nearly 500 Aer Lingus pilots have called off the 48-hour strike planned for tomorrow and Wednesday after an agreement was reached between their union and airline management to enter talks at the Labour Relations Commission.
It is understood the two sides met this afternoon at the LRC and talks have been adjourned until 11am.
Aer Lingus's short-haul flight schedule for Tuesday and Wednesday will now proceed as planned, but a number of long-haul flights have been cancelled.
In a statement this afternoon, the Impact trade union representing the Irish Airline Pilots' Association (IALPA) said that following acceptance by Aer Lingus of the union's proposals for talks at the LRC, the pilots' union has suspended the planned strike.
"The union now looks forward to early discussions on the dispute and the negotiation of a lasting solution," the statement added.
Aer Lingus welcomed the decision by the pilots to suspend their strike action.
The company said: "We have written to the union to confirm that we will accept [industrial relations consultant] Phil Flynn's suggestion of joint discussions on the matter at the Labour Relations Commission. We will shortly confirm arrangements for passengers due to travel over the coming days."
Aer Lingus chief executive Dermot Mannion last night wrote to the IALPA calling on the union to withdraw its strike notice and to immediately engage with the company.
IALPA in turn said it would suspend the strike when Aer Lingus provided written confirmation that it agreed to the talks.
The news that the strike has been averted will come as a relief to the estimated 40,000 passengers who would have been affected by the 48-hour walkout by 480 pilots.
The pilots proposed to strike over the airline's plans to hire pilots for the new Belfast base on what they say are less favourable terms and conditions than those enjoyed by pilots flying out of the Republic.
The pilots' union argues that its industrial relations agreements with Aer Lingus apply to all pilots, regardless of where they are based.
Hopes of a breakthrough surfaced yesterday when industrial relations consultant Phil Flynn, who worked with Aer Lingus management and pilots over the company's plans to set up new bases outside the Republic, said he was unaware of any proposals for Belfast.
Mr Flynn said had he known of the plans, it was unlikely he would have approached things differently, but he would probably have recommended that pilot concerns about the establishment of the base be dealt with through joint discussions.
President of the Irish Airline Pilots' Union Evan Cullen said Mr Flynn's statement vindicated the union's position that the Belfast base does not come under the terms of the so-called Flynn Report, and undermines Aer Lingus's claims that it does.
Aer Lingus chief executive Dermot Mannion said the airline acknowledged Ialpa's concerns and accepted Mr Flynn's recommendation to engage in discussion to explore how they could be alleviated.
In correspondence this morning, both sides agreed to enter talks at the LRC and to seek clarifications on certain aspects of Mr Flynn's report.
It also emerged last night that the Taoiseach has asked Government officials to examine options for airline connections to the region.
A report in this morning's Irish Timessays the group will begin work in the coming days and that Cabinet will consider the issue in 10 days' time at its first meeting after the holidays.
The group has also been asked to examine the level of investment in the region provided for under the new National Development Plan and Transport 21.
The Atlantic Connectivity Alliance, a body set up last week to lobby for the retention of Aer Lingus's Shannon to Heathrow slots, welcomed the Taoiseach's move this evening.
"We are satisfied that not only is the removal of the slots contrary to the protection afforded to them in the shareholders' prospectus but it is also commercially unsound to remove profitable services with significant growth potential in an uncompetitive market to a competitive market such as Belfast where there are already eight flights daily to Heathrow," the body said in a statement.
"In that regard, the Taoiseach's intervention is welcome and we would anticipate that any forensic scrutiny of this decision by Government officials will result in a reversal of the Aer Lingus' move. In the meantime, there will be no let-up whatsoever in the Atlantic Connectivity Alliance campaign, which is set to intensify across a number of strands over the coming weeks to ensure that Shannon has the necessary connectivity to this vital international hub."
Separately, Impact/Ialpa representatives travelled to Northern Ireland today to meet Minister for Regional Development Conor Murphy to brief him on the unions' position regarding Aer Lingus's decision to open a new Belfast base.
Additional reporting: PA