Iberia is seeking negotiations with pilots' union SEPLA after no agreement was reached by a 15 April deadline set by the meditator in their dispute over restructuring cuts.
The Spanish carrier says a 4% pay cut which took effect on that date will be reversed once "productivity measures are in place".
It adds that it is "confident" that SEPLA "will accept this new opportunity to work towards an agreement that... will hasten the day when a profitable company can be built, with an assured future".
Last month, strike action was averted when a majority of unions - but not SEPLA - accepted proposals made by mediator Gregorio Tudela. Under these, the airline would cut 3,141 positions instead of a planned 3,800.
The proposals also included wage reductions.