Major concessions on pay and terms and conditions have been agreed by staff at the Monarch Group as part of a financial turnaround plan.
The changes cover all areas of the business and involve concessions of up to 30% in salaries, as well as changes to working patterns and other conditions.
Staff were balloted on the proposed changes and on average more than 90% voted in favour, with a proportionately high level of staff deciding to vote.
Results show that pilots voted 96% in favour, along with more than 90% of cabin crew and 88.43% of engineers at Monarch Aircraft Engineering.
Confirmation of the result came a day after Greybull Capital was confirmed as the preferred bidder to acquire Monarch for more than £75 million from the group’s current shareholders, principally the Mantegazza family.
The group is also looking to shed 900 jobs from its 3,300-strong workforce, with two-thirds expected to accept voluntary redundancy.
British Airline Pilots’ Association general secretary Jim McAuslan said: “Pilots and their colleagues at Monarch have stood up and made major sacrifices to secure the future of this important British company, accepting lower pay and reduced terms and conditions within a restructured airline.
“We welcome the announcement that Greybull are moving towards securing their position as majority shareholders in Monarch.”
Oliver Richardson, national officer at Unite, which has more than 1,000 members working for Monarch in engineering and cabin crew roles, said: “Our priority is the welfare and longer term job security of our members.
“Although the discussions over the past few weeks have been difficult and our members are sacrificing a lot, what is clear is that they remain committed to the future of Monarch and have voted accordingly.
“We will be seeking assurances and commitments from the new investors and company regarding future business plans and any impact they might have on our members.”
Monarch Group chief executive Andrew Swaffield said: “This vote represents another step forward in our efforts to transform Monarch and demonstrates a commitment from every member of the Monarch workforce.
“Yesterday we made a major announcement that Greybull Capital is the preferred bidder for Monarch.
“Today’s news that staff accept changes to their terms and conditions, including considerable reductions in salaries, is a further, significant step in our efforts to complete our proposed transaction.”
He added: “Further hurdles are still to be overcome; however we have also secured major agreements with aircraft lessors and commitments on future investment from Greybull. This is firm progress for Monarch, its employees and for its customers.”