The guild, which came into being almost a decade ago, represents around 1,000 domestic pilots at the airline.
"If there is no proper clarity on the resolution process and salary payments, by March 31, we will stop flying from April 1," the guild said.
The pilots and other senior staff have been getting their full salaries since December.
Having failed to get any assurance from the management on salaries, the guild last week had written to Union labor minister Santosh Gangwar, seeking his intervention.
Meanwhile, aviation minister Suresh Prabhu Tuesday also directed his the secretary to hold an emergency meeting on the debt-ridden airline that has been cancelling flights abruptly following grounding of a large part of its fleet.