Managers and unions at Shannon Airport have reached a provisional agreement on a revised cost-cutting plan.
Workers must now ballot on the agreement.
The company still wants to make more than 200 workers out of 550 redundant.
Some weeks ago workers at the airport rejected management's €35m restructuring plan aimed at achieving major cost cuts.
After further intensive talks over the last week facilitated by Kieran Mulvey and Kevin Foley of the Labour Relations Commission new proposals were agreed early this morning.
However the redundancy package worth up to ten weeks' pay per year of service is now capped at three years' salary instead of two and a half.
For those remaining at the airport, significant work practice reforms have been negotiated in all sections.
Catering operations will be outsourced and replaced by new franchises.
Catering staff may either transfer to new suppliers or be redeployed within Shannon Airport.
The lump sum for staff remaining at Shannon Airport rises from €10,000 to €16,000 payable in two phases. As yet it is unclear how much these revisions will add to the cost of the package.
Unions will have to ballot members on the agreement but if they accept it, Shannon will move one step closer to becoming an independent airport.
