Allegiant Air and its pilots have reached a tentative contract agreement, 10News WTSP reported late Tuesday night.
The pact with the International Brotherhood of Teamsters, which is representing the pilots, awaits ratification in late July, according to a release from the company.
Talks started in 2014.
"We are pleased to have come to an agreement with the IBT and our pilots. This contract, once approved by our pilots, will allow us to move into a new chapter at Allegiant," said CEO Maurice Gallagher Jr. "Our pilots are a vital part of our team, and we are looking forward to building a better future with them and for them."
This is the first contract between the airline and pilots since they unionized.
Allegiant Air carried about 95 percent of the St. Pete-Clearwater International Airport's record 1.6 million passengers in 2015.
The Federal Aviation Administration, however, is conducting an inspection of Allegiant Air's operations in response to "various internal issues" tied to maintenance and safety.