The settlement between the South African Airways (SAA) and the National Union of Metal Workers of South Africa (Numsa) and South African Cabin Crew Association (Sacca) brings the eight-day strike at the national airline to an end.
The resolution of the dispute was announced by the Commission for Conciliation, Mediation and Arbitration, which had been mediating between the parties.
But uncertainty remains about just what earnings staff will gain.
SAA confirmed that the unions – which had sought an 8% rise – had agreed to an increase of 5.9% on the total cost of employment retrospective to 1 April this year, to be paid in the February 2020 payroll.
The back payment for the first six months would be paid in March 2020, with the remaining four months paid in April 2020.
But SAA said the increase and back pay would be subject to funds being obtained for this purpose.
The airline said a task team would be established to identify and consider cost-saving initiatives, insourcing and contracts.