Ryanair says that all of its Irish pilots have accepted pay cuts of 20% as part of a four-year agreement.
The airline said that the pay would be restored over four years and that other changes would be made to rosters and annual leave.
Ryanair said that in return this would minimise the number of job losses at the airline.
In a statement on the agreement, Ryanair said it would give the airline "a framework to flex its operation during the Covid-19 crisis and a pathway to recovery when the business returns to normal in the years ahead."
Productivity agreements are also included in the deal.
Speaking about the deal, Ryanair CEO Eddie Wilson said: “We welcome this week’s results in both Ireland and the UK of acceptance of a 4-year agreement on 20% pay cuts and productivity improvements on rosters and flexible working patterns to save the maximum number of Irish and UK Pilot jobs.
"The strength of this acceptance demonstrates the commitment from our pilots in Ireland and the UK to work with Ryanair as we work our way through this crisis over the next number of years.”
Fórsa, the trade union representing Irish pilots, did not provide comment on the agreement.