NEW YORK (CNN/Money) - Mesaba Airlines, Northwest Airlines Corp.'s regional partner, and representatives of its pilots' union reached agreement early Sunday on a new labor contract after negotiations extended beyond a strike deadline late Friday, both sides said.

Neither side offered details of the accord, which is subject to ratification by the 844 members of the Air Line Pilots Association's Mesaba unit. The union, in a statement, said its master executive council has already approved the terms of the deal.

"We look forward to a good working relationship with our pilots and ALPA," John Spanjers, Mesaba's president, said in the statement. "This deal reflects the professionalism and contributions of our pilots and how important they are to the success of our airline."

"After two-and-a-half years of arduous negotiations, the union leaders are gratified to present this tentative agreement to the Mesaba pilots," said Tom Wychor, chairman of the ALPA's Mesaba pilots' unit, in a statement.

The pilots and management had continued talks after averting a strike deadline Friday night following more than two years of negotiations.

Mesaba, a unit of MAIR Holdings Inc. (MAIR: Research, Estimates), operates as a Northwest Airlink partner, providing more than 600 daily flights to 112 cities for Northwest from its three major hubs in Detroit, Minneapolis/St. Paul and Memphis.

Mesaba and its pilots have been at odds over job security, compensation, retirement and work rules since June 2001 when contract talks began. The contract became amendable in 2002, and a strike deadline was triggered after negotiations reached an impasse and federal mediation failed.

"We held our ground on contract goals and believe that this new agreement will satisfy the pilots' requirements for strong job security, improved work rules, appropriate pay, and a solid retirement plan," Wychor said. "This tentative agreement allows Mesaba pilots to move forward in their careers, but it also gives management the latitude to grow our company."

Wychor said union leaders will begin informing pilots about the tentative agreement as soon as all of the final language is drafted. He said pilots will vote electronically and a simple majority is required to ratify the contract.

The potential strike had forced Mesaba to cancel about 600 flights, including 48 on Friday, 500 on Saturday and 73 on Sunday morning, as the two sides pressed on with marathon negotiations that began Friday morning.

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Eagan, Minn.-based Northwest (NWAC: Research, Estimates), the No. 4 U.S. airline, said Sunday it would allow passengers with tickets for Mesaba flights between Friday and Jan. 17 to rebook travel, with some restrictions but without change fees, through 11:59 p.m. CT (12:59 a.m. ET Monday).

Stock in MAIR Holdings Inc. closed down nearly 7 percent to $7.60 a share on the Nasdaq on Friday.  

-- Reuters contributed to this report