The tentative agreement sidesteps the contentious issue of a two-tiered pension plan for pilots that would have potentially put more financial risk on the majority of Hawaiian's pilots, said Capt. Jim Giddings, the head of Hawaiian's pilots union.

Giddings declined to go into specific details before Hawaiian's 298 pilots look at the tentative agreement. But, Giddings said, "We've agreed that we will look for a transition from our current type of pension plan to a different type. We're just going to do it outside of the pressurized bankruptcy environment. It's a real good solution for both parties."

The two sides negotiated for more than a year and Hawaiian's bankruptcy trustee, Josh Gotbaum, had asked U.S. Bankruptcy Judge Robert Faris to rule on whether the pilots should have to accept his proposals.

The tentative agreement came as Faris was prepared today to begin a hearing on the issue. Instead, Faris scheduled a hearing for March 10 and 11 to consider the plan by Ranch Capital, LLC to bring Hawaiian out of federal bankruptcy protection.

The plan requires that Hawaiian have new contracts in place with its six unions. Four have approved new contracts and the Association of Flight Attendants has yet to schedule a ratification vote.

Giddings said he hopes to get the contract details before Hawaiian's pilots and schedule a vote before the March 10 and 11 hearing.

"It's going to be tight," Giddings said. "We'll get this together as soon as possible. We understand that the company and the members want to get out of bankruptcy as soon as possible, but we want to do it right."

Union leaders will meet in a few days to decide whether to recommend that members ratify the agreement, Giddings said. "But I think we ended up with a fair agreement," he said.

In a statement today, Hawaiian's bankruptcy trustee Josh Gotbaum said: "We're pleased to have negotiated a contract that meets the needs both of Hawaiian and our pilots. It will permit Hawaiian to exit bankruptcy and show the world what a great airline it has become."