Earlier in the day, the Guild, which has about 1,100 pilots as its members, chose to stop flying from April 15 in protest against non-payment of salaries for months.
The money is expected to be disbursed after the Jet management submits an operational plan on how it intends to use the money till May 7, the report said. "In light of the meeting, the members have requested, through their team leaders, that the call of "no pay no work" be deferred to give the airline a chance of survival", the Guild said in the communication.
Around the same time, the company announced it was low on working capital.
The airline's pilots along with engineers and senior staff were last paid for December, 2018. Its employees are expecting to be paid their pending salaries once the fresh funding comes through.
The management of Jet Airways will be requesting the lenders today to provide a large sum of funds in one portion, at least Rs 1,000 crore, to get the airline's operations back on track but the situation does not look very optimistic, sources close to the development told CNBC-TV18.
Not only the airline but also the journey over the past four-five months have been extremely hard for ground staff at the airline, they have been humiliated by passengers over the cancellation of flights besides facing financial hurdles. The pilots, engineers and cabin crew of the airlines assembled at the headquarters on Monday morning to show their solidarity.
An urgent meeting to discuss the Jet situation was held at the prime minister's office on Friday, which was also attended by the country's aviation secretary, Pradeep Singh Kharola.
The NAG, which claims representation of around 1,100 pilots of the total 1,600 with the full service carrier, had in late March called for no flying from April 1 over non-payment of salaries.
At present, Jet is operating only 7 aircraft for domestic operations due to the grounding of over 80 per cent of its fleet by lessors owing to non-payment of dues. Further, it has closed reservations for its Mumbai-London, Mumbai-Amsterdam-Mumbai and Bangalore-Amsterdam flights, till April 18, according to the information.
Founded in 1974, Jet Air was a powerful General Sales Agents (GSA) that represented as many as 17 global airlines before it spawned Jet Airways in the 1990s.
Speculation is rife that Jet's ex-Chairman Naresh Goyal and six other parties have expressed their interests in the stake sale process.