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Travel to and from France is expected to normalise after the Olympics in September. (Photo: Reuters)
The Paris Olympics are weighing on Air France KLM’s and its low-cost unit Transavia France’s summer sales, the Franco-Dutch airline group said on Monday.
France will host the Olympic Games from July 26 to Aug. 11, which has caused some people to rethink their travel plans, the company said in a statement.
It expects a negative impact of 160 million to 180 million euros ($172 million to $194 million) on its unit revenues between June and August, but said there was no impact on the guided capacity at this stage.
The group said international markets were avoiding Paris, which is expected to result in below average June-August travel between the French capital and other destination.
“Residents in France seem to be postponing their holidays until after the Olympic Games or considering alternative travel plans,” it added.
Travel to and from France is expected to normalise after the Olympics in September, the company said.
“The Olympics were unlikely to prove a positive for the group, but this is incrementally disappointing,” said Neil Glynn, an analyst at research firm Air Control Tower.
In mid-June, Air France CEO Anne Rigail said that long-haul business travel was rebounding well, though the recovery in China traffic remained slow.
In December, France’s Transport Minister Clement Beaune announced a no-fly zone during the opening ceremony of the Olympics, which could cause disruption to Air France and other global airlines operating in the city.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jul 01 2024 | 1:54 PM IS
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