The new plan envisages a different form of funding that will also lead to a change in ownership of Jet.
The pilots, who along with engineers and senior staff have not been paid for almost four months now.
Jet pilots had earlier threatened to go on strike from March 1 but they called it off after the Indo-Pak skirmish.
Naresh Goyal had earlier wooed both TPG Capital and Delta Air Lines without success.
GIC pipped Japanese diversified conglomerate Mitsubishi — the other entity GMR had been in advanced talks with — to clinch the deal.
Many eyes in the industry are on Tata Sons that had initial discussions to buy a stake in Jet.
The lenders, led by the State Bank of India, will initiate a bidding process on April 9 to find a new buyer for Jet.
Hiring Boeing pilots & training them would be less expensive for IndiGo than appointing expatriate pilots.
This is part of the 48 plane deliveries the airline is expecting this year. The rest would be Airbus A320neos, said Willy Boulter, chief commercial officer of IndiGo.
Cash-strapped Jet Airways had on Monday said it had grounded four more planes, taking the number of aircraft that are non-operational due to non-payment of lease rentals to 41.
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