Jet Airways had appointed Ball as its CEO in May last year.
Jet is losing money fast, beset by high costs, low fares and cut-throat competition in its domestic market.
Jet Airways expects to return to profit in the next 18 months, following implementation of a new route network and fleet strategy and cost optimisation measures.
The assurance to pilots came after a meeting between the two sides at the airline's headquarters in Mumbai on Wednesday, airline sources told PTI on Tuesday evening.
Shares of Jet Airways on Wednesday tanked over 10 per cent in the morning trade as the airline has posted its highest-ever annual loss of Rs 4,129 crore (Rs 41.29 billion).
Jet Airways, part-owned by Abu Dhabi's Etihad, reported its biggest-ever quarterly loss as costs jumped and it took a charge on its investment in a subsidiary.
Jet and Etihad stand to benefit from cost savings and synergies in areas such as fleet acquisition, maintenance and training.
Jet Airways made a stand-alone profit of Rs 87.5 crore (Rs 875 million).
Jet Airways Ltd said on Friday it made a profit in the June quarter compared to a loss in the year-ago period, helped by a drop in fuel expenses.
Jet Airways on Thursday said it would introduce more flights on both its domestic and international networks.
Karnik was mandated to oversee commercial and sales functions of the airline. He took over from Hameed Ali, who joined the airline's board.
With oil prices in a free fall, the airline is looking at regaining some of its lost share.
National carrier Air India became part of the 27-member global airlines grouping Star Alliance, as budget airline AirAsia India launched operations and Tata-SIA joint venture carrier Vistara received the flying permit and announced its intentions to start operations from January 9.
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