Renaissance Aviation has come to an agreement with the Bermuda Industrial Union, ending concerns of a possible strike.Nick Faries, COO of the East End Group, said that the majority of the seven staff members fired last week will return to work over the next three weeks. The remaining fired workers will be able to apply for any vacancies that become avaliable and be given favourable consideration over any other applicants.The parties also tentatively agreed on an appropriate bargaining unit that will allow for a union recognition ballot.Renaissance Aviation and the BIU issued a joint statement announcing the agreement this evening.Mr Faries said: “There is now an agreement between the parties on all outstanding matters and no contentious issues remain.”Renaissance Aviation fired seven employees last week after they reportedly refused a ten percent pay cut. BIU leader Chris Furbert said the employees were terminated because they joined the union and were seeking union recognition.On Monday, the BIU gave the company 24 hours to meet several demands, including the rehiring of the workers. They warned that a general membership meeting would be called if Renaissance failed to comply, causing speculation of possible industrial action.