and stuck in a debt trap malaysia tries to renegotiating a better deal for a pricey rail project with china. let's do business diesel gate has finally reached the man at the top martin. is on his way to court his company manipulated diesel emissions tests on millions of vehicles around the world it got around environmental regulations while cheating motorists into thinking they were buying greener cars now the public prosecutor's office in the german city of his charged into court and for other executives with fraud the scandal blew up in september twenty fifth scene a few days later into corn resigned has always denied any personal involvement in

the affair which has cost the comic a billions of euros in fines. straight over to frankfurt for a financial correspondent. is this the moment that the critics have been waiting for. oh yes been absolutely it is this is a great day for many people here who were part of this whole deal gate scandal in one way or another if you think about it for many it was really personal for customers for example who felt betrayed by folks who are going to course but also it's been heavy on investors who lost billions and billions of dollars a year as here in their investments and for many people ben it was almost painful to watch over the three last years how martin vinta corn as c.e.o. folks working at the time always seems to get away there was never an indictment on him personally nothing ever and everybody knew all kind of figured he had to know something martin venter called it will have to understand is

a man that is known as an engineer at heart some people said he knows every screw of every car that the company built so it was just not plausible that marc inventor of corn would not know what was going on with the emission cheating scandal whether he was the head of it and came up with it or whether he allowed it is unclear but he definitely knew something and i guess the story has finally caught up with him now ok well that's going to be up for the courts to find out but record had previously denied any personal involvement what do you reckon spin to happen to him what depends of course spent as you said what can be proven because it is kind of pointless to discuss whether he knew anything or not as long as you cannot prove it but if you think about it it's been three years that the scandal broke three years that investigators obviously used the date that they have done several raids and walk in they have tons of documents at the time and if after three years they come

to the conclusion to now indict martin venter corn that must mean something that must mean that they have a case built against the former c.e.o. . at the frankfurt stock exchange thank you very much. now imagine going into work every day for four months and not getting paid pilots from india's ailing jet a ways of taking to the streets of mumbai calling for a state lifeline the airline first of folded on one and a half billion dollars in debt back in december. since friday jet airways staff have been staging demonstrations they're calling for the indian government to intervene and they want lenders to find a way to rescue the carrier. because. it was one of the premier. up facing a lot of difficulty because just we have families to feel the feelings of. loss of this position. on this.

jet airways is billions of dollars in debt and it now desperately needs another cash injection thousands of flights have been cancelled with little or no notice for passengers the airline doesn't have enough planes jet airways says it has an overall fleet of one hundred nineteen aircraft but the number of planes has plummeted to just seven the carrier has been unable to pay aircraft leases on time they're well below the indian regulators minimum requirement of twenty aircraft for any carrier operating international flights now jet airways employees fear any rescue could be too late what we would like to see is the appeals to be excited to see if it is to save twenty thousand plus jobs to get it the good to see us and the sadies everything they could for the last seven eight months to have it be before the last one jet airways staff aren't the only ones who fear losing jobs if the

airline tumbles for prime minister nuri interim o.t. who is running for reelection getting the needed votes may depend on finding a buyer for the beleaguered airline and time. let's talk about that without hyundai's following this story for us it's also just how important is fixing this problem for motives were election bid. well ben on is these are going to have much of an impact on his political fortunes it's more about perception or sending the right message so. he would not want a prominent airline that employs more than twenty thousand employees to go bust under his watch i mean he has actually boasted about his business credentials all through the past five years and even before that when he was the chief minister of a province in india so having said that he wouldn't want that to happen under his watch and that's the reason why we're seeing state owned banks coming to the rescue

of a private company it's a very move by a state owned bank and a consortium led by a consortium of banks led by the state bank of india wasn't this one of the all the biggest airlines at its time at its height by market share and what went wrong. well it did not and does feed back then that there would be this sudden rise of low cost budget and once they came in like airlines like indigo or spice jet jet could or was all this left in the scotch again it did bring down its fares but it continued to operate as a full service kavya as a result it took up a lot of debt around a billion dollars worth of debt and hence the condition that we find today in also what did not help his cause was the wallet prices that has actually hurt then die aviation sector a fast growing aviation sector in india doubted to be the third largest aviation

market in the ward in the coming five to ten years so. this weight loss star was the fact that it could not catch up and it was kept playing this catch again because it took a long time for it to try catching up it never did. and now it's in financial trouble and you've got all of these pilots who haven't even been paid why is it taking so long to fix this problem when i believe the jet taught all this while that it could actually weather the storm as it has done in the past few years it has actually managed to weather the storm but there's also an important fact and that is it's found and that is good now and that is good it was reluctant in the first place to give give up control of jet evie's and that actually dissuaded many pretention investors to actually make some investment in jet he didn't want to give up control of the. now he has given up control and hence we have this dead to restructuring deal and the. consortium led consortium has taken control hopefully

there would be a solution to this but exports a not very optimistic that's actually one of time because. the consortium hasn't actually infused given the money that it's just promised so far and hence the meeting today that they're discussing about whether it could actually give a part of the it had promised. the waiting game continues absolutely after those thank you very much for coming in. well criticism of china's global belts and road initiative have been warnings about beijing offering countries huge infrastructure projects that end up being debt traps a case today with malaysia's new prime minister revealing the costs of a china backed rail deal were slated edging as back down slashing the price tag by a third project is key as it allowed chinese freight to avoid the malacca straits which in a tory as for piracy. the railway will connect the port of climbing near kuala

lumpur with the south china sea and will be a crucial freight route between the malacca strait and kuantan where china is developing a major port prime minister mahathir mohamad it's pretty assessors signed the original agreement in two thousand and sixteen try to end the contract rather than wreck up sixteen billion dollars worth of debt to china's ex-im bank beijing threatened contract terminations fees of more than five billion dollars essentially leaving no had no option but to renegotiate now he says the total cost of the project would be reduced to just over ten billion dollars shared between the china communications construction company and malaysia rail links. has this been in the open asian and meant the. e.c. . through fifty fifty joint venture company.

and see c c c. work on the project which was suspended last year is expected to resume in may with completion for the end of twenty twenty six. more inside from under a hang our age of correspondent in singapore and various so has malaysia now got itself a good deal it'll still need to take a loan from a chinese state bank i believe to fund this line. exactly it's hard to believe but ben this is actually the best way off from elisa to mohamed actually try to end the entire project but with the five billion dollar nation fee threatened by china this is actually the lesser of two evils how did malaysia let itself fall into this so-called death trap in the first place you know that. what to begin with a lot of these deals including one with singapore were actually forced to during the former prime minister. term so now what it's left with is

a mess to clean up especially in the wake of the one and the scandal and a lot of that mess cleaning has to do with renegotiating such deals and this is really interesting news the timing of this news is very interesting because this belt road initiative has come under so much international criticism but we see other countries taking a closer look at the small print of their deals with beijing no. well in my heart to taking the lead in milly's it very well could happen with the other countries there's been a lot of criticism as you said we're all trying to back views especially within the bill in the initiative pakistan and india being among them but there's also been some of the complaints in your neck of the woods been in europe where china has forged a shady one sided deals i'd rather you very much advice doing business with you.

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cards people twenty second on t.w. . place. this is c w news live from berlin is german justice finally catching up with volkswagen's former c.e.o. prosecutors indict marchin winterkorn for his role in the admissions scandal judges say that he and four other managers will face fraud charges for falsifying test results for the company's diesel cars. also coming up.