Air France-KLM Faces Profit Drop Amid Paris Olympic Travel Slump

The airline group reports a significant earnings shortfall, citing reduced travel to Paris during the 2024 Olympics as a major factor.

Air France-KLM's third-quarter operating profit fell to €1.18 billion, missing analyst expectations of €1.24 billion.
The group attributed a €160 million revenue loss to decreased international travel to Paris during the Olympics.
The airline's stock dropped nearly 12% following the earnings report, with a year-to-date decline of 41%.
CEO Benjamin Smith highlighted the Olympics' non-financial benefits, such as showcasing operational capabilities and promoting France.
The company faces additional challenges, including rising unit costs, maintenance expenses, and potential new aviation taxes.