German trade union Verdi said it had reached agreement with Lufthansa on wage increases for 33,000 workers, averting another round of strikes that the union had threatened.

Employees of Lufthansa Cargo and Lufthansa Technik will see their pay rise by 4.7 percent, while Lufthansa AG staff pay will rise by 3.0 percent, in a deal which runs for 26 months and excludes forced layoffs, Verdi said in a statement.

The deal is pending approval by union members by May 14. – Reuters