American Airlines pilots on Friday voted to ratify a new union contract, ending a years-long labor dispute and stabilizing American's parent, AMR Corp , as it tries to emerge from bankruptcy.

The contract, which union members accepted about 74 percent to 26 percent, gives the Allied Pilots' Association a 13.5 percent equity stake in AMR and offers what the union sees as "industry-standard" pay, a union spokesman told Reuters.

"We are pleased our pilots supported and ratified this agreement, which is an important step forward in our restructuring," Denise Lynn, a senior vice president at AMR, said in a statement.

(Reporting By Nick Brown; Editing by Gerald E. McCormick)