Iberia’s parent company, International Airlines Group (IAG), has accepted a Spanish government-appointed mediator’s compromise proposal to end the bitter industrial strife resulting from major restructuring at the loss-making Spanish flag-carrier.

An IAG spokesperson said the company has accepted the proposals, which would see the number of redundancies at Iberia reduced from 3,807 to 3,141 and severance pay-offs set at 35 days’ salary per year of service, rather than the 20 days previously announced by the airline.

Iberia is awaiting a decision by its unions on whether they will accept the mediator’s proposals.

The mediator’s proposals come just ahead of the third bout of strike action by Iberia’s unions, which are protesting the job losses. Personnel are due to begin five days of industrial action March 18.