Paris Olympics Causes €180 Million Loss for Air France

Air France, the national carrier of France, is preparing itself for a blow of €180 million as tourists plan to avoid Paris due to the upcoming Olympics.

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By Mrinal
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Air France to face a loss of millions due to Olympics 2024

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The Olympics are usually a cheering matter for all, especially for the host country which considers it an honour. And though France might be on cloud nine with the upcoming Paris Olympics, set to take place from July 26 to August 11, Air France does not really share the same sentiment. Why? Because tourists are avoiding the area, causing an expected €180 million loss for the airline.

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A loss of €180 million is all set to befall Air France

Paris’s Gain is Air France’s Loss

Air France, the national carrier of France, is preparing itself for a blow of €180 million as tourists plan to avoid Paris due to the upcoming Olympics. With it being the first Olympics hosted in Paris in the last 100 years, the area is being flocked by Olympic enthusiasts, causing overcrowding, increased prices for hotels and restaurants, a surge in footfall at tourist attractions etc. All of this is causing regular tourists, who want to visit Paris for the city and not for the Olympics, to stay away from the capital until the hype dies down.

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Paris Olympics 2024 is the first Olympics hosted in Paris in the last 100 years

Because of this, Air France’s booking for the period, as compared to other years, is significantly lower – €180 million lower, to be exact. The airline is set to witness a drop of €160 million to €180 million for the June-August 2024 period.

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Tourists are avoiding Paris due to the Olympics rush

Air France Says

Highlighting the same, the Air France-KLM Group stated, “International markets show a significant avoidance of Paris. 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. Travel to and from France is expected to normalise after the Olympic Games, with encouraging demand levels projected for the end of August and the month of September.”

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Air France's bookings for June-August period are significantly lower 

Air France is also the official airline for Paris Olympics, and speaking of the event, said, “The company expects to carry 20% of all athletes and para-athletes travelling to Paris and France, i.e., 1 in 5 athletes, mainly from Brazil, the United States, Italy and Japan. Over the summer of 2024, Air France expects to carry up to 125,000 customers per day, equivalent to the volumes during summer 2019. Athletes, delegations and supporters will be arriving en masse over 24, 25 and 26 July, and departing on 11, 12 and 13 August, with a peak in traffic expected on 12 August.”

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