HONG KONG (TheStreet) -- Cathay Pacific Airways (CPCAY) may be close to a settlement with its pilots unions over pay, according to published media reports.

John Findlay, a negotiator for the unions representing the airline's pilots, said the negotiating group had received an offer from Cathay Pacific Friday and had recommended that the pilots vote on it, according to reports published by

Bloomberg

and

The Wall Street Journal

over the weekend.

Approval of the offer could avert a possible work slowdown as the winter holiday travel season approaches, the

Journal

noted.

Shares of Cathay Pacific closed Friday up 20 cents at $14.17.

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This article was written by a staff member of TheStreet.