The panel, which is a sub-committee of the Air India board, was set up on Tuesday following which the executive pilots withdrew their five-day long agitation against slashing of their productivity-linked incentive and flying allowance by half.
Besides Air India CMD Arvind Jadhav, the committee comprises civil aviation ministry's joint secretary and financial advisor E K Bharat Bhushan and joint secretary Prashant Shukul.
The senior pilots had called off their stir on Tuesday after Jadhav informed them that the decision to cut PLI and flying allowance had been kept in abeyance till the Committee heard the employees and examined all related issues in the context of the turnaround plan for the airline.
The panel would submit its recommendations to the board within two months.
Union representatives told PTI in Mumbai that the group of officials would begin meetings with the unions from next week.
"The committee plans to meet all the trade unions in National Aviation Company of India Limited to discuss the turnaround plan and seek their suggestions on the issue," they said.
Discussions would be held with the 14 trade unions separately, the representatives said, adding the unions would give their representations to the Government on how they can contribute in making the national air carrier a profit-making entity.
"We (unions) will give suggestions and define our contributions to the turnaround plan," they said.
The deliberations with the unions are likely to start from Sunday and may last till Thursday, they said.
There are 14 trade unions in Air India representing pilots, engineers, officers, cabin crew, technicians, ground handling staff and other employees.
Over 200 pilots had reported sick during the five-day agitation to protest the decision to cut their PLI and allowances by half.
This had led to cancellation of over 240 flights leading the national carrier to incur a loss of over Rs 100 crore (Rs 1 billion).
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