MONTREAL - A tentative contract agreement has been reached between Air Transat and its more than 500 pilots.

The airline and the Air Line Pilots Association say the new five-year contract includes "significant improvements."

A union official says the agreement brings pilot wages "into line with their peers," although no details will be released pending a ratification vote expected to begin next month.

The pilots' last contract expired on April 30, 2015 and the tentative contract follows more than a year of negotiations and federal conciliation.

If ratified, the new deal will run from May 1, 2015 until April 30, 2020.

Air Transat is part of Montreal-based Transat A.T., which operates an integrated travel business that includes flights and vacation packages in North America, Europe and other areas.