New Delhi, Sep 11 The three-day stalemate at Jet Airways finally neared a resolution late on Thursday night with the management reportedly agreeing to reinstate the four sacked pilots and the agitating pilots agreeing to resume duty.

The formal agreement will come by Friday noon when the striking pilots will hold talks with the Jet Management.

The conciliation talks has been convened by Chief Labour Commissioner S K Mukhopadhyay.

The four-day strike has led to the cancellation of nearly 700 flights, costing hardships to over 28,000 passengers.

The report of compromise comes on Thursday after Prime Minister Manmohan Singh inquired about the crisis at the Cabinet meeting. The hopes for a solution were pinned on Friday's conciliation talks convened by the Chief Labour Commissioner.

President of Aviation Guild Girish Kaushik said the pilots are ready to return to flying duties in 15 minutes from the moment their four colleagues are reinstated.

Kaushik hoped there would be some understanding at Friday's conciliation talks.

Jet Airways yesterday had to suspend all of its flights between the UAE and India after almost half of its pilots did not report for duty.

The management has sacked ten pilots so far. (ANI)