Delta predicts $100 million loss from drop in travel demand for Paris Olympics

Money | July 11, 2024, 2:34 p.m.

The upcoming Paris 2024 Olympic and Paralympic Games are causing a significant drop in tourism to the city this summer, leading to a $100 million hit for Delta Air Lines. Despite an otherwise bustling summer for European travel, Delta's CEO Ed Bastian revealed that travelers are avoiding Paris and booking trips to other destinations. The airline's third-quarter profit and revenue forecast fell short of expectations due to the flood of added flights in the market. Both Delta and its partner Air France are experiencing a decrease in demand for travel to Paris during the Olympic Games, with residents in France postponing their holidays until after the event. However, both airlines anticipate a strong rebound in Paris demand once the Games are over. Delta, which holds the most service to Paris among U.S. airlines, is expecting a boost in travel post-Olympics.