Air France revealed in its latest financial results that the Olympic Games had cost the airline €160 million (R3 billion).
The Air France-KLM group recorded a 13% decline in nett profit compared with last year, which was attributed to a lower-than-expected influx of tourists to Paris during the Games.
Benjamin Smith, General Director of the group, said the third-quarter results had been “significantly impacted” by the Olympic Games.
“The group’s unit revenue was down 0,6% compared to the previous year,” the company said. “In passenger activity, the reduction in international traffic to Paris due to the Olympic Games led to a €160 million (R3 billion) drop in passenger unit revenue. Corrected for this impact, the group’s unit revenue would have been positive at 1,4%.”
However, Smith added that the Games had given Air France a unique opportunity to demonstrate the expertise and capabilities of the airline and showcase France as a destination. This, he believed, would benefit the airline in the long term.
