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Texas Air Corporation today announced that it has agreed to buy People Express Airlines for one hundred twenty-five million dollars in securities.
德克薩斯航空公司今天宣布其已同意以1.25億美元的價格收購人民航空公司。
Texas Air already owns Continental Airlines and New York Air.
大陸航空和紐約航空已在德克薩斯航空旗下。
It is in the process of acquiring Eastern Airlines.
目前它正在收購東方航空。
People Express, one of the first no-frills, low-fare air carriers, has been in financial trouble lately.
人民航空是最早的廉價經濟型航空公司之一，最近陷入了財務困境。
It was forced to shut down its subsidiary, Frontier Airlines.
造成其附屬航空公司，邊境航空被迫關閉。
Texas Air now says it will acquire Frontier's assets as part of its deal with People Express.
德克薩斯航空現在表示，它將收購邊境航空資產，作為與人民航空達成協議的一部分。
Joining us now from New York, NPR's business reporter Barbara Mantel.
NPR商業記者芭芭拉·曼特爾，紐約報道。
"Barbara, it is said this is a very attractive low price, this one hundred twenty-five million dollars in securities.
“芭芭拉，據說這是一個非常具有吸引力的低價，1.25億美元的證券價值。
Besides that, why does Texas Air want People Express?"
除此之外，德克薩斯航空為什么要收購人民航空呢？”
"Well, Frank Lorenzo, who is Chairman of Texas Air, will get airplanes from People Express, which he might need.
“德克薩斯航空公司主席佛蘭克·洛倫佐將收購人民航空，這可能是他的需要。
He will get the lowest cost work-force in the industry at People Express.
他將獲得業內最低成本的勞動力。
He will get a new terminal at Newark, New Jersey that People Express in building.
他將在紐瓦克新澤西新建一個候機樓。
He'll get flights to London, and he will get control over competition.
他將得到飛往倫敦的航班，他將獲得競爭的控制權。
People Express competes heavily, especially in the northeast corridor, with Texas Air."
人民航空公司與德克薩斯航空公司競爭激烈，特別是在東北走廊。
"This issue of competition has been a sticking point before for the Department of Transportaion when two airlines wanted to get together.
“這個競爭問題是擺在交通部面前的一個癥結，當兩個航空公司意圖合并。
How will Texas Air get around it this time?"
這次德克薩斯航空將如何繞過它？
"Well, they might not. Texas Air wanted to acquire East...,
“嗯，他們可能不會。德克薩斯航空想收購東方…，
or wants to acquire, Eastern Airline, and the Department of Transportation said,
或者想收購東方航空公司，于是交通部說，
'No, not unless you sell more landing slots, more slots in the northeast corridor to Pan Am so that we'll have some competition there.'
不行，除非你在東北走廊多賣些著陸點給到泛美航空公司，這樣我們就可以在那里展開一些競爭。
And Texas Air agreed to that just last week.
德克薩斯航空公司上周也同意了。
That may happen again here.
這可能會再次在這里發生。
The department of Transportation may require that Texas Air sell some slots or some gates to another airline to ensure that there is still competition in the northeast part of the marketplace.
交通部可能要求德克薩斯航空出售一些著陸點或登機點給另一家航空公司，以確保東北部市場仍存在競爭。
But Texas Air has some leverage here with the Department of Transportation because People Express is a failing company.
但德克薩斯航空公司在這里與交通部有一些優勢，因為人民航空是一家失敗的公司。
And the Department of Transportation may feel, 'Well, we'll let them buy People Express and keep it running, rather that let it fail and lost all those jobs.'"
交通部可能會覺得，‘嗯，我們會讓他們收購人民航空，讓它繼續運營，而不是讓它垮臺，流失所有的工作崗位。”
"Mm hm. Now, if the deal is approved by the Department of Transportation, what is it likely to mean for consumers?
“嗯，如果交易是由交通部批準的，對消費者來說可能意味著什么？
If there's less competition the fares could possibly go up."
如果競爭不那么激烈，票價可能會上漲。”
"Well, yes. You would think that when you move from two competitors in a market to just one airliner that prices would just have to go up.
“嗯，是的。當一個市場從存在兩個競爭者轉變到一家獨大時，你會想到一點，客機價格勢必將上漲。
But I want you to keep in mind that unrestricted fares of the kind People Express offered,
但我要你記住，人民航空所提供的無限制票價，
you know, wholesale unrestricted fares, were being eliminated and phased out anyway, because they were not profitable.
你知道，大規模不受限制的票價，不管怎樣，正在遭到淘汰，因為他們盈利性低。
And the Department of Transportation theory here is that if you allow mergers to take place, or many mergers to take place,
交通部的理論是，如果你允許合并，或者進行許多合并，
you might create more efficiencies and low costs, leading possibly to lower fares.
你可能會創造更高的效率，帶來更低的成本，從而可能降低票價。
And also the Department of Transportation believes that there's a lot of potential competition in the marketplace.
交通部也相信，市場上存在很多潛在的競爭。
Airlines can move planes around and buy gates,
航空公司可以動動飛機，購買關口，
and so that if an airline in a particular market segment was making a lot of money and raising prices excessively,
因此，如果一家航空公司在某一特定的細分市場賺了很多錢并籌集到資金，過度提高價格，
other airlines would move in and prices would be brought down through competition.
其他航空公司將遷入，價格將通過競爭降低。
So that it's a nice theory, the theory of potential competition keeping prices in line,
這是一個很好的理論，潛在競爭理論使價格保持一致，
but it's sort of a new idea and it'a not clear that that's really the way it would work."
但這是一個新想法，是否真的會以這樣的方式發揮作用尚未明確。”
"Thanks." From New York, NPR's Barbara Mantel.
“謝謝，”芭芭拉·曼特爾，紐約報道。
