The firefighters have accepted a one-off payment – believed to be £4,000 – and have agreed to provide fire cover for at least 12 months.
However, all members of the pay negotiating body, the Public Sector Remuneration Committee, have announced their resignation after being angered that a group of ministers brokered the deal behind their back.
Guernsey Airport was forced to close on Tuesday after the long-running dispute over pay and conditions escalated into a strike.