India to Bail Out National Airline Carrier

 　　The Indian government will give billions of dollars to rescue its debt-ridden national carrier, Air India. But the government has deferred¹ a decision on allowing foreign airlines to pick up a stake in private Indian airlines, which are also struggling with losses.

　　Civil Aviation Minister Ajit Singh says the government will infuse nearly $5.8 billion over the next eight years into Air India. He says the financial restructuring plan is expected to make the national carrier profitable by 2018.

　　The airline has been incurring² heavy losses in recent years. Workers have not been paid salaries on time, and on at least two occasions, oil firms have halted fuel supplies to the airline for not paying its bills.

　　Singh allayed³ growing concerns about the government’s decision to spend taxpayer⁴ money to rescue the airline. He says the cash infusion⁵ will be linked to performance targets, and the airline will have to prune⁶ operating expenses.

　　"Let’s be very clear that Air India has to rationalize their costs," he said. "They have to be in line with industry norms, otherwise government cannot and will not continue to use public money to run Air India."

　　Air India’s problems began five years ago when it was merged⁷ with a state-owned domestic carrier. It has not turned a profit since then.

　　Sanat Kaul, chairman of the International Foundation for Aviation and Development in India, says the cash infusion to revive the airline has come very late.

　　"They had a merger⁸ which was a failure …it has been many, many years since then, it has to be done fast," he said.

　　Private airlines also struggling

　　Air India is not the only airline that is in trouble. India’s aviation industry is facing a crisis with five of its six private airlines struggling with debt. The cumulative⁹ losses last year amount to an estimated $2.5. billion.

　　The industry’s problems stem from the high cost of aviation fuel in India and a price war that has made it difficult for airlines to raise fares and recover costs. As a result, despite a huge rise in passenger traffic, most airlines have continued to post losses in recent years.

　　The cash-strapped airlines have been hoping that the government will allow foreign airlines to pick up a 49 percent stake in local carriers. The measure, if approved, could be a lifeline for the industry.

　　However, the government has deferred the much-awaited decision. Singh says the Cabinet will consider the measure when it meets next week.

1 deferred   

adj.延期的，缓召的v.拖延，延缓，推迟( defer的过去式和过去分词 )；服从某人的意愿，遵从

参考例句：

• The department deferred the decision for six months. 这个部门推迟了六个月才作决定。
• a tax-deferred savings plan 延税储蓄计划

2 incurring   

遭受，招致，引起( incur的现在分词 )

参考例句：

• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。
• He spoke to the Don directly, taking a chance on incurring Michael's ill will. 他直接向老头子谈自己的意见，这显然要冒引起迈克尔反感的风险。 来自教父部分

3 allayed   

v.减轻，缓和( allay的过去式和过去分词 )

参考例句：

• His fever is allayed, but his appetite is still flatted. 他发烧减轻了，但食欲仍然不振。 来自《现代英汉综合大词典》
• His fever was allayed by the medicine. 这药剂使他退烧了。 来自《现代英汉综合大词典》

4 taxpayer   

n.纳税人

参考例句：

• The new scheme will run off with a lot of the taxpayer's money.这项新计划将用去纳税人许多钱。
• The taxpayer are unfavourably disposed towards the recent tax increase.纳税者对最近的增加税收十分反感。

5 infusion   

n.灌输

参考例句：

• Old families need an infusion of new blood from time to time.古老的家族需要不时地注入新鲜血液。
• Careful observation of the infusion site is necessary.必须仔细观察输液部位。

6 prune   

n.酶干；vt.修剪，砍掉，削减；vi.删除

参考例句：

• Will you prune away the unnecessary adjectives in the passage?把这段文字中不必要的形容词删去好吗？
• It is our job to prune the side branches of these trees.我们的工作就是修剪这些树的侧枝。

7 merged   

（使）混合( merge的过去式和过去分词 )； 相融； 融入； 渐渐消失在某物中

参考例句：

• Turf wars are inevitable when two departments are merged. 两个部门合并时总免不了争争权限。
• The small shops were merged into a large market. 那些小商店合并成为一个大商场。

8 merger   

n.企业合并，并吞

参考例句：

• Acceptance of the offer is the first step to a merger.对这项提议的赞同是合并的第一步。
• Shareholders will be voting on the merger of the companies.股东们将投票表决公司合并问题。

9 cumulative   

adj.累积的，渐增的

参考例句：

• This drug has a cumulative effect.这种药有渐增的效力。
• The benefits from eating fish are cumulative.吃鱼的好处要长期才能显现。