Moncton and its locked out transit workers have reached a tentative deal that will soon see buses back on the streets after a five-month-long work stoppage.

The city issued a statement on Tuesday night saying the two sides had reached an agreement that must now be ratified.

No details will be discussed about the contract while the city and the Amalgamated Transit Union Local 1290 ratify the agreement over the next few days.

Moncton Mayor George LeBlanc said in a statement he is pleased the lockout has finally ended.

"It’s been a long and difficult labour dispute, but we can now put it behind us," LeBlanc said.

"I know it’s been very difficult on people who relied on Codiac Transpo, but we can now start fresh and work towards delivering an improved service."

The city says it may still take "several weeks" for bus service to resume.

Moncton locked out about 80 bus drivers, mechanics and service people on June 27.

The city’s previous offer would have paid Codiac Transpo drivers $52,000 a year by 2017. The union had been holding out in hopes of being paid $60,000 per year by 2018.

Both sides have already agreed to annual pay hikes that would bring the bus drivers' salaries to $51,000 a year by 2017, up from $44,000.

The transit workers have been without a contract since 2010.

Codiac Transpo operates in Moncton, Riverview and Dieppe.