Corporate indigestion is as unpleasant as too many mince pies on Christmas day. So Monday’s denial by Air France-KLM of talks to buy more shares in Italy’s Alitalia – where it has held a 25 per cent stake since 2009 – should be welcomed. The Franco-Dutch carrier has plenty on its plate as it tries to stabilise finances and cut unit costs and fleet. Admittedly, there could be extra synergies from a tighter tie-up with the Italian airline medium-term. But now is not the moment to take on more politically sensitive downsizing in another recession-hit country.
企業消化不良就跟耶誕節喫多了百果餡餅一樣不舒服。因此，法航荷航集團(Air France-KLM)週一否認其正在談判增持義大利航空公司(Alitalia)股票，這應當受到歡迎。該集團自2009年以來持有義大利航空25%的股份。這家法荷營運商手頭的事已經夠多了，它正試圖穩定財務狀況、削減單位成本和機隊。不可否認，從中期來看，與義大利航空形成更緊密的聯合會有額外的協同效益。但現在還不是在另一個受經濟衰退打擊的國家進行更多政治敏感的精簡的時候。