david tweed. this is "bloomberg turnaround." join me to see how alan joyce got qantas flying high again. >> qantas' turnaround is really a textbook example of what can be done within the airline industry. david: in 2018, qantas reported a profit of $1.2 u.s., its largest ever. shareholders were awarded with buybacks and dividends of $360 million, while employees were showered with $50 million of bonuses. that was a far cry from the $2.7 billion loss announced in 2014. >> there is no doubt. today's numbers represent the year that has passed that we have now come through the worst. alan: how do you do? nice to meet you. welcome to qantas. david: tell me about the turnaround. how did the plan evolve? alan: we had probably the perfect storm there around 2013. the conditions are important because we had high oil prices. they reached over $4 billion, the highest we have seen. we have simultaneously tried to take massive market share and being funded by a number of foreign airlines, extensively funded. we also had, because of a very high aussie dollar, a lot of int

to have something to say about the demand in the market, especially for commercial jet engines david joyceoining us we're going to talk about the ge-9x. first, mullhlenberg was talking about their hopes for getting the max get in service, potentially at the outer edge, the end of the year. what's your sense from talking with them, talking with airlines, how quickly we see the max return >> you know, as you can imagine, we're in contact with dennis and kevin and the boeing team every day. you know, we're very confident in the max as an airplane. you know, the 737 is just a workhorse of the industry. you know, i think it's going to be in service sooner rather than later. the faa, as you heard, announced today they're getting ready to do their airworthiness certification flight test. following that, i'm sure there will be a process the faa and boeing are going to go through to ensure they're comfortable with the airworthiness then it'll go back in service. you know, i have great confidence that we're going to see this thing in service sooner rather than later. >> sooner rather than later. >>

upe from the airshow coming including the ceo of a boeing and the chief executive of ge aviation, david joycethater, a conversation the ceo of qatar airways. this is bloomberg. ♪ nejra: this is bloomberg daybreak europe. ofliam porter, head strategies at credit suisse is still with us. we have talked about copper shorts hitting a record. is this the canary in the coal mine? william: not shorts. they do not seem to be pushing the price down very far. slightly mixed signals. we call it dr. copper. of whathe uncertainty might or might not the going on and struggling to keep up with earnings, it is on the front line. inhave seen some weakness hong kong this morning. the fact that shorts are piling on, effectively forecasting a notssion, and copper is really acting in such a way suggest to me that the markets that the market perhaps is getting its self too -- it's self -- itself too b earish. nejra: where are the best opportunities for you then? if you are prepared to take the view that there is not going to be a recession, then opportunities are opening up all over the place. equity markets. favo

it is ceo david joyce. david: how are you? guy: i am very well. talk about how high the bar is. you are the group desk your group cfo said the aviation is .retty recession resilient issue right? david: the balance of business is very favorable for us. we have a great production run going. we are going to increase production by 50%. we have an -- by 15%. we have an incredible aftermarket. middle of a real growth market when it comes to military. we are seeing 10% compound growth rate through the middle of the next says if you have a recession perhaps in the commercial market on new make equipment but people are still flying and we represent two out of every three departures in the world. 75 departures a minute right now , two thirds of which are powered by ge. we have a pretty good growth story on military. guy: that is a yes. david: it is a strong business model. 8 billion budget. it is a bedlam scale. is bigger better? david: as you and i talked about before, any of these mergers have two really create incremental value versus the two companies.

coming up, a slew of interviews from the paris air show, including the ceo of bloomberg and the david joyce. we'll also have an conversation with the airways about the future of aviation and the state of the industry right now. remember, bloomberg radio is also available to you. this is bloomberg. ♪ anna: welcome back to the european open. another cash equity trading week. this is the picture on the futures for europe. we are expecting to see modest gains at the start of trade. will they materialize? possession in asia was mixed. now, let's get to dani burger. is not a look ahead of what to expect in the world central banking. dani: it kicks off today. we have the ecb officials meeting in portugal and we have seen draghi use the meeting this way investors, but top of mind for market is time, how does the ecb react slowdown risk? that's given their lowdown risk of ammunition. just as they are talking with a, we get a decision from the fact. economists are not expecting changes, the we will be listening to language to show how much of a path for cuts, especially if we see the trade wars add h

and john harris and ge aviation ceo david joyce.iew of what to watch in markets as the morning rolls on. sophie kamaruddin is here. sophie: when taipei trading caps off, tdk molding and focus after withdrawing its investment in japan displays, citing various changes of these situations. extending the kleins after key client, broadcom, cut its outlook and sees their gorgeous -- third-quarter guidance. there may be tailwinds from a report that they might be making five nano chips in the first quarter of 2020 with apple as the first one. the mediatech ceo has warned of a tough year for the industry, but the company expects to mass produce its first five g chip in march of 2020 as well. investors have the anti-exhibition protest to consider. the hang seng did manage to get a modest gain of 27,000 points despite a three day drop. liquidity conditions tightening. this morning, the hong kong 783 athovering around the start of this. shery: let's get a quick check of futures. you're seeing u.s. futures up , as of course,% this is coming on t

. >> my thanks to you, my friend and also to you robert costa, david jolly, joyce vance and matt miller. mtp daily starts right now. >>> if it's thursday, a dilemma for democracy. it's been a day of intense fall out after the president admits he would take dirt from a foreign government now to help him win an election. the biggest question facing le d leaders like him. >>> 2020 candidates getting ready for first debate night and they are starting to go after each other. nc >>> welcome to thursday. i'm chuck todd. here in new york city. it's been a wild and crazy day. i'm not playing if the role of steve martin after the president said sure, we how ohe would takn interference in an election. who wouldn't? what do you do when the president completely trifl yalizes. the you really wait until 2020? she's facing more pressure as another top house democrat joins the pro-impeachment crowd. >> if the president is invited foreign interference, why is that not grounds to move forward with impeachment? >> everybody in the country should be totally appalled by what the president said last night. sh

. >> my thanks to you, my friend and also to you robert costa, david jolly, joyce vance and matt millerp daily starts right now. >>> if it's thursday, a dilemma for democracy. it's been a day of intense fall out after the president admits he would take dirt from a foreign government now to help him win an election. the biggest question facing l d

joyce,ompson and david they do not serve on the committee, but they have an important bill that we will be considering, a portable fuel container safety act which would establish a mandatory standard for flame mitigation devices in portable fuel containers. introduced the safer occupancy furniture flammability act, otherwise known as sofa, which would adopt california's standards for upholding furniture flammability, which would -- the standard for upholstered furniture flammability. bills, theoduced two first is the sturdy act, which to enact fact the cpfc a mandatory standard to prevent stern -- furniture tip overs. day, commonf every pieces of furniture like clothing storage units, dressers, and desks tip and fall. unfortunately, according to the overs inflict around three injuries per hour in the united states, and we are going to hear worse today from crystal and missus ellis. in 2020 alone, over 2 million units of children's products faced recall and nursery furniture was a leading category. c rulemaking cannot move fast enough. in the last 10 years they finalized only one mandato

i'm david tweed, this is bloomberg turnaround. join me to see how alan joyce qantas flying high again. qantas' turnaround is really a

david tweed. this is "bloomberg turnaround." join me to see how alan joyceantas flying high again. >> qantas' turnaround is really a textbook example of what can