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

the consortium of twenty six lenders led by the state bank of india says they are reasonably hopeful the airline can be rescued they held a bidding process with potential investors for a controlling stake it was shortlisted for contenders including which already has a twenty four percent stake in the airline they hope to ease the hard landing for jet airways now to some of the other business stories making news the united states and china are edging closer to a deal over the trade dispute top u.s. representatives robert light highs and steven nugent are reportedly preparing a visit to beijing for talks next week. amazon is pulling out of the chinese market the online retail giant his closing its internet story in china in july it's a significant setback for the company amazon has struggled to win over customers local rivals alibaba and j.d. dot com. and argentina is freezing prices on some food including rice and milk to bring in spiralling inflation the price of public services like transport gas and electricity will also stay the same rising inflation has drained the spending power

employees who paid been paid for months it was already in the trolls the airline led by the state bank of india is looking to sell a controlling stake in jet airways and has short listed for potential buyers into the it's how their way is which already owns twenty four percent. now from company boss to presidential contender we've heard that story before terry go the billionaire founder of tavernise electronics make a fox call has said that he's stepping down from his post to run for president of taiwan already the richest man in the country he now wants to become the most powerful and he hopes for some divine intervention. mean i'm foxconn chairman terry goos run for president is divinely inspired at least that's what he said in this temple to the sea goddess matsu he claims that matsu came to him in a dream encouraging him to step up for the taiwanese people that's quite an indorsement as it is but it has close ties to china that may get him on the ticket he plans to run in the primaries of the opposition kuomintang party but stresses it's not a done deal yet. i am willing to participate in t

looking for someone to take over are looking for someone to take over a 75% stake which of the state bank of indiaen on temporarily but they do not want these on their books. reports saying there are three possible people interested in this, but none of this has been necessarily going to get them through the end of the month. they literally do not have enough gas to last them through to tuesday but they still owe a lot of people money, including those pilots which have decided not to go on strike to give the airline a chance to survive. but these claims are being decommissioned and once it is deregistered, rather, at this point they only have seven aeroplanes available. you have to put this in perspective. this was one of india's biggest airlines. it broke the monopoly in the 19905 and bigge5t airline5. it broke the monopoly in the 19905 and now it only has seven planes 5o monopoly in the 19905 and now it only has seven planes so it is really having a tough time and it is unclear if it will make it to the end of the month. we will talk to you again about this but for now thank you. let's turn our

problems the company is now reportedly under the control of a group of investors led by the state bank of india the vice president of national aviators killed told the economic times of india's workers are ready to be flexible on wage demands in order to help any new investors or owners to get the company back off the ground an activist has filed suit seeking to ensure that passengers who have purchased tickets on more than one thousand suspended flies are either given refunds or allowed to reschedule. there are more details on the peruvian angle of the sprawling international scandal around the brazilian construction firm older brecht in the wake of the suicide of former president alan garcia the two time former president shot himself in his home last week as police waited to arrest him on charges of receiving corrupt payments from motorbike officials now peruvian prosecutors are describing a corrupt network they say took root in mr garcia second presidential administration and received millions of dollars worth of kickbacks. the allegations of dirty dealings are detailed in a new forty four p

the state bank of india is the lead lender and there was supposed to be $270 million loan on a temporaryhcoming. when you see that of that nature, the lenders are in an invidious position because unless they can find someone with capital, and the government is looking for someone to produce a shareholding of 70% of the company, it is a tall order. i cannot see it happening in india... and they have elections. miranda —— modi trying to get re—elected. an airline is absolutely vital in india. hopefully they will find someone internationally because ido find someone internationally because i do not think they will find anyone in india. and david will be back in about half an hour to review the main stories being covered by the global media. stay with us on bbc news, still to come: in its former glory — we'll have more on the historic significance of notre dame cathedral for the french people. pol pot, one of the century's greatest mass murderers, is reported to have died of natural causes. he and the khmer rouge movement he led were responsible for the deaths of an estimated 1.7 million cam

shutting down operations wednesday night now this morning the consortium of lenders led by the state bank of india said that they will now they've released a statement saying that they're now going to push interested buyers to formally bid for the airline as the best way forward to keep the airline going there and jet reached this point simply because it couldn't eight spills sipping specifically huell and airport charges and interestingly enough though these lenders who now own a stake in the airline had been saying that they were willing to give an emergency loan to the airline to keep operations going but those funds were never released and the last flight flew wednesday night from richard to mumbai so if i can't get that cash injection is this the end of jet airways and what does this all mean for its passengers that. well maybe maybe not for the end of the airline will have to wait for the final bidding process which will take place on may tenth to see if the company can be revived but jet has had financial difficulties for years derren in two thousand and thirteen they came close to collapse

was considered india's premier airline internationally their biggest private airline and they say that it can still be saved now also on thursday a consortium of lenders led by the state bank of india that effectively own a chunk of the airline say they believe the best way forward is to get any interested buyer to formalize their bid but that won't happen until may tenth. turning our attention to the states now for two years americans have been waiting to know what the report is all about the special counsel was investigating alleged ties between the president trump russia an edited version of the four hundred page report is expected to be released on thursday even though democrats have been demanding access to all of it has more now from washington. the timeline for the release of the mole report is somewhat unusual to put it mildly first at about nine thirty am local time the u.s. attorney general bill barr will speak to reporters about this report which will have been edited to protect confidential information that leads to investigations classified information and information that could unfairly bar the reputations of people who are not in the public sphere then ninet

was considered india's premier airline internationally their biggest private airline and they say that it can still be saved now also on thursday a consortium of lenders led by the state bank of india that effectively own a chunk of the airline say they believe the best way forward is to get any interested buyer to formalize their bid but that won't happen until may ten more lessons bring an airline consultant desk to poor and lester in the united kingdom thank you so much for joining us what went wrong for this airline thank you i'm sorry what nonono are is what went wrong for this airline the question. well i think the problem is built up over the last ten years as long as ten years ago more than ten years in fact in two thousand and six the airline invested in cost airline in india that were horribly wrong five hundred million dollars invested as a low cost airline basically didn't work jet airways were not in the low cost market three years later you saw competition coming in or asia you saw indigo airlines and you saw spice jet come in low cost entrance and basically jet airways being a full service i couldn't really cope with that competition and they never tackled t

it posted lost is -- posted losses in nine of the last 11 years, and recently defaulted on loans. now banks led by the state bank of indiag to take a 50% stake by issuing new shares, but the supreme court of india just dealt an unexpected blow, striking down the bank framework that permitted that particular maneuver. if the airline goes out of business, it would likely push in india and could leave prime minister modi with a black mark on his economic record just weeks before the election. you can check out more about jet airways and all of our quick takes on the bloomberg. we are staying with aviation now. guy: let's turn our attention to what is happening with boeing. , the latest -- with boeing, the latest surrounding their 737 max jetline. a report appears to clear the pilots and pointed the finger at boeing. clear that thee aircraft flight control system related to controllability should be reviewed by the manufacturer. guy: it is interesting. didn't actually specifically talk about the system that seems to be at the center of this whole story. let's get the latest now. kris bryant joins us from portland -- from ber

was considered india's premier airline internationally their biggest private airline and they say that it can still be saved now also on thursday a consortium of lenders led by the state bank of india that effectively own a chunk of the airline say they believe the best way forward is to get any interested buyer to formalize their bid but that won't happen until may tenth. in the next few hours will be finding out what's in the report by the u.s. special council robot allegations of russian interference in the twenty sixteen u.s. presidential election the investigation is two years in the making and edited version of this four hundred page report is expected to be released even though democrats have been demanding access to all of its roles in jordan from washington. the timeline for the release of the mole report is somewhat unusual to put it mildly first at about nine thirty am local time the u.s. attorney general bill barr will speak to reporters about this report which will have been edited to protect confidential information that leads to investigations classified information and information that could unfairly bar the reputations of people who are not in the public s

easy but jet still still has a way to get off the ground a consortium of lenders led by the state bank of india who now own a chunk of the airline say it said in a release just this morning that they believe the best way forward is to get any interested buyer to formalize their bid but that won't happen until may tenth. thanks very much. the former peruvian president alan garcia has died of a self-inflicted gunshot wound after the police tried to arrest him at his home the president was being investigated in latin america as infamous corruption scandal mariana sanchez reports from the proving capital lima. the last act in the life of peter's former precedent began with the police raid of his home in an affluent area of the capital lima they were there to arrest him in connection with a long running investigation into corruption during his time in office in the late one nine hundred eighty s. at some point police apparently allowed alan garcia to make a private phone call from his home a short time later us heard was long live on garcia was in critical condition and doctors fought to save his li

the state bank of india now has control over jet airways. for the company have certain ones in place. these are some of these areas where they will fall to challenges. that is the reason it is trending down by as much as 1.4%. thank you, as always. this is the most popular plane -- this is boeing's most popular planes. future maintenance says the impact on airline operations worsen from the second quarter. let's discuss this with the director of asian-pacific corporate. what is the measure -- major story and the aviation space? how does it affect aviation credit? >> it is a story that is still playing out. the impact is likely to increase in the second quarter. what we need to see is what is the delay. if it takes several months, obviously the impact on boeing would be higher. for airlines, i think what we can see over the next few quarters is that some of the airlines will take this opportunity to actually improve the balance sheet. they will delay the increase. that actually gives them an opportunity to benefit from these affairs and also

this struggling airline are delaying any moves as they wait for clarity on the state of its finances. india's central banking the legality of a restructuring plan designed to kickstart jet's recovery. haidi: indonesia's top rate healing -- ride-hailing service is going ipo. it indonesia's first started to join the $10 billion costs and only the second in southeast asia after the rival. they said an ipo is a long-term plan, but it won't happen anytime soon. fighting flares again in libya as rebels move on the capital. we will look at implications for the oil market. this is bloomberg. ♪ this is bloomberg. ♪ this is daybreak asia. president trump's top aides say the u.s. and china are close to a trade deal and communications will continue via telecom -- telephone conference. resolve kudlow wants to this trade war. china said progress is being made, but a state run news agency said the outstanding issues are tough nuts to crack. >> on the negotiations, we just get closer and closer. we made headway last week when the vice premier was here. this week there will be a lot of teleconferencing among the top tier

neighboring bank that there are very high for years activists have pointed out widespread exploitation and abuse of over a million workers who work in the southern states which is really the heart of india's textile industry and they make loads there mainly for global brands and the workers here are mainly women from from poor backgrounds no cost backgrounds are very vulnerable to section had a sprint intimidation and they often are not paid enough they have working us so that does remain a major problem and. so there are calls for western governments for stronger over sides of the western textile industry was draws heavily on. the indian industry but is the indian government doing enough to protect its workers well there are laws and pleas that are meant to protect excited workers you know local administrations in tamil nadu have hailed awareness campaigns sensitize they should campaigns factories are also mandated by law to have internal committees that investigate allegations of sexual habits meant but act of the sea in reality many of these are not used by workers because of fear that they might lose their jobs so the subtly of a long way to go there. in delhi for us thank you. three

of india. coming up today, an important conversation on the state of banks and private money in america.8:00 hour, an important conversation. this is bloomberg. ♪ >> i have a plan to make sure that we make certain aspects of the bank more effective so that ultimately we do not have to keep introducing further taxes to the consumer, which adds to the burden of inflation. guy: south african leader of the opposition, speaking to nejra cehic on "daybreak" earlier. luis costa and peter dixon are still with us. it looks like he has got the election. clearly, the asc is a divided organization but looks like it will hold onto critical areas. a lot of the reform process has been delayed until after this election. it feels like he needs to get a mandate under his belt to deliver the big reforms south africa needs. is this election going to allow him to do that? luis: i believe there will be a positive mixed signal from this election. like the polls, it looks they will be in a position to 58% to 60% of support. he is a very popular president, the most popular since mandela, so he has got the positi

india used an anti satellite missile to take down one of its own satellites demonstrating the cuff ability and use china russia the united states previously as just. two former employees of british bank barclays have been sentenced to jail a jury in london and victim of conspiring to rig the global interest rate benchmark euro ball over a five year period the two were given five years and four years apiece it is the sixth was a fusion already bought by the u.k. syria's foreign office after and the a seven year criminal investigation is the second retrial after a hung jury on the line of the complicated nature of financial four years. of the world's largest industrial trade opens its doors today in hanover germany german chancellor angela merkel and swedish prime minister left open to show sweden is this year's party to european nations want to improve economic and technological corporations and overseas set to showcase innovations in the fields of engineering as well as artificial intelligence and the super fast five g. mobile. well at the heart of a famine machine getting increasingly closely connected but does the show actually square with reality or is it just show case a pipe dre