Sources reveal that Air India is likely to take the step as senior pilots draw a hefty that comes in eight figure.
The airlines is also expected to scrap down many of its advisory boards.
It is also said that the airlines is working to give a professional touch to its management.
Reports reveal that the union government was in talks with some lenders to evolve unanimity on restructuring the loans of the airlines.
A nominee would also be appointed by the lead banker on the airline board, said sources.