Delta Air Lines reports a significant decline in average holidaymakers to Paris this summer, costing the company $100 million. Over 40 million tourists flock to Paris annually, drawn by the City of Love’s allure. However, the upcoming Paris Olympics are disrupting many iconic spots, including the River Seine, deterring many visitors.
“Unless you’re going to the Olympics, people aren’t going to Paris...
very few are,” Delta’s CEO Ed Bastian told CNBC . “Business travel, you know [remains], [but] other types of tourism is potentially going elsewhere.” This year’s summer Olympics, the first Paris Olympics in 100 years, takes place between 26 July and 11 August, with some 15 million visitors expected to attend the once-in-a-lifetime experience, Le Monde reports.
However, just 2 million are expected from overseas, with vacationers put off by the prospect of large crowds and hiked prices . To put that into context, over 10 million people usually visit The Palace of Versailles alone each year. As a result, Delta’s third-quarter profit and revenue forecast has fallen short of Wall Street expectations .
The Atlanta-based carrier has especially felt tourist’s aversion to the major sporting event because it services more American travel to France than any other US airline, in a joint venture with Air France. The carriers have a combined 70% market share in nonstop service between France and the US, CNBC reports. Fortune has contacted Delta for comment.
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