Shivakumar refrains from commenting on Cabinet move to withdraw approval for CBI probe against him
Bengaluru (PTI): Refraining from offering a direct comment, Karnataka Deputy Chief Minister D K Shivakumar on Friday said he has seen media reports about the state cabinet holding the view that the sanction given by the previous BJP government to the CBI to investigate a disproportionate assets case against him was "not in accordance with law."
Shivakumar, also Karnataka Congress chief, stayed away from Thursday's Cabinet meeting, chaired by Chief Minister Siddaramaiah.
The Congress government is now expected to issue an order withdrawing the consent given to the CBI in the case.
"I saw in the paper (newspaper), I could not attend (the cabinet meeting) yesterday. Whoever has to speak on it will speak," Shivakumar told reporters here.
Noting that he was going to Telangana for two days for the election campaign there, he said, "if the party asks me to extend (campaigning), I will have to."
The High Court of Karnataka on Wednesday adjourned to November 29 the hearing of the appeal filed by Shivakumar against the sanction accorded by the previous government to the CBI to prosecute him in a disproportionate assets case.
The CBI informed the High Court on November 15 that the Supreme Court has directed the HC to hear the application filed by the investigating agency seeking vacation of stay granted on the appeal, preferably within two weeks.
A single judge bench had earlier dismissed Shivakumar's petition challenging the sanction of September 25, 2019 granted by the government to prosecute him.
Shivakumar then challenged it before the division bench which had stayed the single judge order. The CBI had filed an application for vacation of this stay.
Based on the Income Tax Department's search operations at Shivakumar's home and offices in 2017, the Enforcement Directorate started its own probe against him. Based on the ED investigation, the CBI sought sanction from the state government to register a case against him.
The state government had given the sanction on September 25, 2019. The CBI had registered an FIR against him on October 3, 2020.
The CBI has claimed that Shivakumar amassed wealth to the tune of Rs 74.93 crore, disproportionate to known sources of his income from April 1, 2013 to April 30, 2018, when he was the Energy Minister in the then Siddaramaiah-led Congress government (2013-2018).
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Air India resorts to cost-cutting ways amid 'tough times'; layoffs not anticipated
New Delhi/Mumbai (PTI): Hit hard by Pakistan airspace closure and Iran war, Air India has resorted to cost-cutting measures, including holding back annual increments for staff and asking them to cut discretionary spending as well as non-critical expenditures, warning of "tough times".
On Friday, Air India Chief Executive Officer & Managing Director (CEO & MD) Campbell Wilson told the staff it is going to be a "very, very difficult year" if things don't improve on the Middle East front.
A day after the loss-making airline's board discussed various cost-saving steps, Wilson, along with Chief Financial Officer (CFO) Sanjay Sharma and Chief Human Resources Officer (CHRO) Ravindra Kumar GP, addressed the employees during a townhall on Friday where the emphasis on the need to keep a close watch on costs.
With higher jet fuel prices due to the West Asia conflict and airspace curbs, the loss-making airline's expenses have spiralled in recent times and against this backdrop, Sharma also told staffers that FY26 has seen a softening in revenue amid heightened external uncertainties.
Calling for a relentless focus on costs in these tough times, Wilson urged employees to suspend discretionary spending, renegotiate rates where feasible, and defer non-critical expenditures.
"There must be a laser-sharp focus on eliminating wastage and leakages," he said.
Stressing the need to tighten the belt for a while, Wilson sounded optimistic that travel demand would rebound and the industry would continue on its upward path.
CHRO Ravindra Kumar told staff that the airline will proceed with variable pay for the last financial year and continue with planned promotions while noting that annual increments will be deferred by at least one quarter.
"We don't anticipate layoffs," he said.
At the airline's board meeting on Thursday, various cost-saving steps, including likely furloughs, were discussed. The Tata Group-owned airline has around 24,000 employees.
Generally, furlough refers to sending staff on unpaid leaves by companies during a tough financial situation.
During the townhall, CFO Sanjay Sharma said while strong revenue growth and fleet expansion drove financial momentum through FY25, FY26 has seen a softening in revenue amid heightened external uncertainties.
Air India has seen around 40 per cent CAGR (Compounded Annual Growth Rate) in revenue between 2022 and 2025, he added.
The airline was acquired by the Tata Group from the government in January 2022.
The Air India CEO mentioned the external challenges being facing the aviation industry as a whole, including the continued closure of Pakistan airspace that is expected to persist for the foreseeable future and geopolitical conflicts leading to disruptions and airspace closures across West Asia.
Wilson, who is set to step down later this year, also flagged a sharp depreciation of the rupee and a 2.5-3 times increase in jet fuel prices, and added that these factors have adversely affected travel sentiment and consumer confidence, as per the sources.
If the Strait of Hormuz opens, oil prices fall and consumer as well as business confidence come back, there is a decent chance of a solid recovery, Wilson said, adding that unless those circumstances happen, it was going to be "a very, very difficult year".
"I feel somewhat responsible that we ended up with probably the biggest surprise of the year in the external environment which was a full-scale war in our neighbouring region in the Gulf. That has had a huge impact on airspace," he said.
For Air India, Wilson said the situation is compounded by the fact that the airline cannot fly over the neighbouring country and has to take a much longer routing for any west-bound destination.
"Every airline is reporting that they are under some sort of financial pressure as a result of higher fuel prices and economic uncertainty. So, it is unfortunately not a great environment to be running an airline," the Air India CEO said.
The Air India Group -- Air India and Air India Express -- is projected to have incurred more than Rs 22,000 crore loss in the financial year ended March 2026.
At the townhall, Wilson also highlighted various initiatives, including completion of the retrofit of its legacy narrow-body aircraft and rapid network optimisation to redeploy capacity more efficiently.
