Air traffic - Air France expects decline in sales due to Olympics
Air France anticipates fewer passengers and revenue this summer due to the Olympics in Paris. Paris is expected to be avoided as a travel destination in the summer, according to Air France-KLM. Traffic to and from the French capital is lower than anticipated for traffic to and from other major European cities.
The number of trips from Paris to other destinations is also below the usual average for the period from June to August. French residents are apparently postponing their vacations until after the Olympics or considering alternative travel options, Air France explained. The revenues for the summer season are under pressure, which can be attributed to the Olympics in Paris.
Currently, Air France-KLM expects earnings between 160 million and 180 million Euro for the period June to August 2024. Travel behavior to and from France is expected to normalize after the Olympics, which are scheduled to take place from July 16 to August 11. Encouraging demand levels are forecasted for the end of August and September.
Air France-KLM Communiqué
- Despite being the host of the upcoming Olympic Games in Paris, France, Air France anticipates a decline in sales during the summer season.
- The company has noticed a significant drop in air traffic to and from Paris compared to other major European cities, which is negatively impacting their turnover.
- To avoid Paris during the Olympic Games, many French residents are postponing their vacations or opting for alternative travel destinations, which directly affects Air France's operations.
- Air France-KLM's earnings for the summer of 2024, from June to August, are forecasted to be between 160 million and 180 million Euro, a potential consequence of the Olympic Games in Paris and the associated decline in air traffic.
