Share to Facebook Share to Twitter Share to Linkedin The Paris bid to host the 2024 Olympic Games is seen on the Arc de Triomphe in Paris on February 9, 2016. (Photo by LIONEL BONAVENTURE) H osting the 2024 Summer Olympics in Paris is doing nothing good for the French national airline’s bottom line. Air France announced Monday that it expects a loss of up to €180 million ($193 million U.
S.) during the current financial quarter as tourists avoid Paris during the Olympics, held between July 26 and August 11, 2024. Fearing crowds and sky-high prices , tourists are not flooding the Parisian capital for the Olympics.
“International markets show a significant avoidance of Paris,” the carrier said in a statement . “Travel between the city and other destinations is also below the usual June-August average as residents in France seem to be postponing their holidays until after the Olympic Games or considering alternative travel plans.” As a result, Air France-KLM estimates “a negative impact on its forthcoming unit revenues in an order of magnitude, from €160m - €180m for the period June until August 2024.
” The carrier expects that travel to France will normalize after the Olympics end, “with encouraging demand levels projected for the end of August and the month of September. For context, Air France-KLM reported revenues of over $9.3 billion in the third quarter of 2023, driven by strong summer demand.
Air France’s statement lines up with data from the Paris t.
