Ryanair has struck a deal with Irish pilots, raising hopes that future pan-European industrial action can be averted.

Talks between the low-cost carrier and pilot union Forsa started almost two weeks ago. An agreement was reached after a 22-hour negotiating session, which concluded in the early hours of Thursday.

The deal, details of which were not revealed, will be put to the ballot with Forsa’s recommendation for acceptance.

A spokesman for Ryanair said it will "take these proposals to its board in due course after the Irish-based pilots have voted on this signed agreement".

Shares in Ryanair climbed sharply following the announcement, rising almost 7pc.