Air India turnaround faces delivery test as leadership questions surface

Air India turnaround faces delivery test as leadership questions surface


FILE PHOTO: Air India Chief Executive Officer Campbell Wilson
| Photo Credit:
AMIIT DAVE

The buzz around a possible change at the top of Air India has grown louder as doubts deepen over whether the Tata Group-led revival has delivered on its promise of operational excellence and customer-centric transformation.

Nearly three years after Air India’s return to the Tata Group, persistent disruptions, uneven service quality and slow-moving reforms have triggered an internal reassessment of leadership, industry insiders told businessline.

Chief Executive Officer Campbell Wilson inherited an airline weakened by years of underinvestment, labour challenges and an ageing fleet. Early allowances for these legacy constraints were broadly accepted. But as the Tata-led management approaches its third year, those allowances are wearing thin. Critics increasingly question whether the current leadership has the operational clarity and bandwidth to carry the turnaround into its most demanding phase.

Mark D Martin, Founder and Chief Executive Officer of Martin Consulting, said it was “too coincidental and uncanny” that Wilson’s exit is being discussed at a time when the final report on the AI171 incident is expected from the Aircraft Accident Investigation Bureau. “It is widely known that Wilson’s allegiance and loyalty to the Singapore Airlines Group led to Singapore Airlines’ agenda being kept paramount, resulting in a remote-control approach to Air India while suppressing the Tata Group’s objectives,” Martin said.

Structural move

Wilson’s early tenure was marked by decisive structural moves. The Vihaan.AI transformation programme laid out a revival framework, while the order for 470 aircraft from Airbus and Boeing reset Air India’s long-term ambitions. Network expansion to Europe, North America and Australia helped restore some credibility to its global aspirations.

Execution, however, has lagged intent. Operational performance has improved only incrementally, with recurring disruptions linked to aircraft availability, crew shortages, training backlogs and other constraints. The integration of Vistara with Air India, and AIX Connect with Air India Express, has added further complexity.

Customer experience remains uneven. While a new brand identity, refreshed cabins on select aircraft and improved digital interfaces have helped shift perception, wide variation across fleet types continues to undermine passenger confidence.

Financially, Air India remains in an investment-heavy phase, with high capital expenditure and merger-related inefficiencies weighing on near-term performance. The deeper cultural shift, from a public-sector legacy to a performance-driven private airline, has also proved slower than anticipated.

Ultimately, the debate has shifted from vision to delivery. The architecture of Air India’s revival is largely in place; whether the current or a future leadership can translate it into reliable operations, consistent service and financial discipline will determine whether the Tata Group’s promise of excellence is finally realised.

Published on January 5, 2026



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RBI asks banks to draw up credit risk management policy, covering aspects such as lending to related parties

RBI asks banks to draw up credit risk management policy, covering aspects such as lending to related parties


The Reserve Bank of India (RBI) has asked scheduled commercial banks (SCBs) to draw up a Board-approved credit risk management policy, covering aspects such as lending to related parties, country risk management, unhedged foreign currency exposures, among others.

With respect to related party lending, Banks have to specify aggregate limits for loans within materiality thresholds, put in place a ‘Committee on lending to related parties’ and have a comprehensive whistleblowing mechanism, among others.

As per the Reserve Bank of India (Commercial Banks – Credit Risk Management) – Amendment Directions, 2026, loans to related parties, which are permissible (including credit facilities fully secured by cash or liquid securities and in accordance to prescribed LTV/loan-to-value and valuation norms for such securities) will not be higher than the materiality threshold ceilings.

Depending on the assets size, a materiality threshold ceiling (MTC) has been prescribed. For a Bank with an asset size of less than ₹1 lakh crore, the MTC is ₹5 crore; for a Bank with asset size greater than/equal to ₹1 lakh crore and up to ₹10 lakh crore, the MTC is ₹10 crore; and for a Bank with asset size greater than ₹10 lakh crore, the MTC is ₹25 crore.

All loans above the prescribed materiality threshold have to be sanctioned either by the Board or by the ‘Committee on Lending to Related Parties’ of the bank. As regards loans below the materiality threshold, the same can be sanctioned by appropriate authority in terms of powers delegated to them.

Recuse from deliberations

Directors, Key Managerial Personnel (KMP), or ‘specified employees’ have to recuse themselves from deliberations and decision on loan proposals, or contracts and arrangements, involving themselves or their related parties, per the directions.

Such recusal will also extend to deliberations and decisions relating to any subsequent material changes to the terms of such loans, including one-time settlements, write-offs, waivers, enforcement of security, implementation of resolution plans, etc.

RBI said a bank has to put in place a suitable mechanism for maintaining and periodically updating the list of all the related persons, and the related parties thereof, as well as the loans sanctioned by the bank to such related persons and related parties.

Whistleblowing mechanism

The policy will, as a part of the whistleblowing mechanism, encourage employees to communicate confidentially and without the risk of reprisal, legitimate concerns, if any, about irregular, unethical or questionable loans to related parties; and eliminate quid pro quo arrangements, if any.

The central bank said these amendments, which also cover aspects relating to valuation of properties, including empanelment of valuers, and opening of current accounts and Cash Credit / Over Draft accounts, will come into force from April 1, 2026. Banks may however decide to implement the amendments in entirety from an earlier date.

Published on January 5, 2026



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Govt removes import restrictions on low ash metallurgical coke

Govt removes import restrictions on low ash metallurgical coke


Coke made from coal for steel production (image used for representative purpose)

The government has removed import restrictions on low ash metallurgical coke, having ash content below 18 per cent, according to a notification.

On December 31, the Directorate General of Foreign Trade (DGFT), in a notification, said it is extending import restrictions on low-ash metallurgical coke from January 1 till June 30, 2026.

However, through a notification dated January 3, it said: “Import of low ash Metallurgical Coke (having ash content below 18 per cent), including coke fines/coke breeze and ultra-low phosphorous metallurgical coke, is free”.

Published on January 5, 2026



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Venezuela Oil Game: क्या Reliance बनेगा सबसे बड़ा Winner? | Paisa Live

Venezuela Oil Game: क्या Reliance बनेगा सबसे बड़ा Winner? | Paisa Live


Venezuela में राजनीतिक और भू-आर्थिक बदलावों को लेकर वैश्विक चर्चाएं तेज हैं। reports और Global Trade Research Initiative के मुताबिक, अगर वहां सत्ता संतुलन बदलता है और अमेरिकी प्रतिबंधों में ढील मिलती है, तो India पर कुल असर सीमित रह सकता है, क्योंकि दोनों देशों के बीच मौजूदा व्यापार काफी कम है।हालांकि 2000–2010 के दौर में India Venezuela से बड़े पैमाने पर कच्चा तेल आयात करता था। ONGC Videsh, IOC और Oil India ने Orinoco Belt में निवेश भी किया था, लेकिन 2019 के बाद अमेरिकी प्रतिबंधों से यह व्यापार लगभग बंद हो गया।आज के हालात में सबसे ज्यादा फायदा Reliance Industries को मिल सकता है। Jamnagar refinery भारी Venezuelan crude प्रोसेस कर सकती है, जो सस्ता पड़ता है। आयात आसान होने पर margins और profits बढ़ सकते हैं, जिसके संकेत बाजार में दिख रहे हैं।



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Kavitha to float political party

Kavitha to float political party


Telangana Jagruthi president, Kalvakuntla Kavitha
| Photo Credit:
RAMAKRISHNA G

Kalvakuntla Kavitha, daughter of Bharat Rashtra Samithi (BRS) President and former Telangana Chief Minister K Chandrashekar Rao, has hinted at floating a new political party and contesting in the next elections.

Addressing the Legislative Council here on Monday, she said that Telangana Jagruti, an organisation that she runs, would be converted into a political party soon.

She alleged that she got a raw deal from the party and that she was humiliated. “I had wholeheartedly worked for whatever work I was given. The party didn’t stand by me when I was facing issues from the Enforcement Directorate and the Central Bureau of India,” she said.

She alleged that she was being targeted because she posed several questions. “I asked for pensions for activists who fought for the Telangana cause. The BRS never recognised the martyrs who laid down their lives in the movement,” she said.

Referring to the resignation letter she sent to the House in September 2025, he appealed to the Council Chairman to accept it. “I don’t want any association with the (BRS) party,” she said.

Published on January 5, 2026



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Crude oil prices for Indian basket may slip below /bbl by June 2026: SBI Research

Crude oil prices for Indian basket may slip below $50/bbl by June 2026: SBI Research


The SBI Research emphasised that even the US action on Venezuela has not significantly impacted prices.

Crude oil prices are expected to weaken in line with global trends with prices for the Indian basket likely to soften to as much as $50 per barrel and even below by June 2026, said SBI Research on Monday.

The SBI Research emphasised that even the US action on Venezuela has not significantly impacted prices.

“Indian basket expected to soften in line with expected trends internationally: Our base case is $50 per barrel… or even lower by June 2026,” it said.

Daily production

SBI Research pointed out that crude oil prices in general have remained subdued due to OPEC+ decision to increase production. The reversal of the strategy and reduction in daily production has not resulted in reversal of price movements and crude prices continued their southward decline.

The medium-term trends in prices since 2022 for Brent and Indian basket show that there has been a downward trend in crude prices, it added.

“The local peaks during the entire stretch indicate the impact of geopolitical risk, although the latest event in Venezuela has not impacted the price significantly on the upside,” SBI Research said.

The outlook on Brent crude for 2026 is further softening from the current levels.

The US Energy Information Administration (EIA) estimates that Brent crude oil price will fall to an average of $55 per barrel in the first quarter of 2026 largely driven by buildup of inventory, it noted.

Since the India basket has correlation of 0.98 with Brent crude, the trends in Brent suggest further softening of Indian basket, it added.

“A moving average analysis for Indian crude, shows that current prices are trending below the 50 and 200 period moving averages suggesting future lower levels from current level at $62.20 per barrel. An autoregressive quantile forecast for Indian basket indicates that the 50th percentile forecast by March 2026 is $53.31 and $51.85 by June 2026. The 25th percentile forecast trends very close to median,” SBI Research explained.

Published on January 5, 2026



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