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Paris terrorist attacks cost airline 50 million euros

December 14, 2015 Aviation, Headline News No Comments Print Print Email Email

egtmedia59Despite efforts by French tourism authorities to talk up the situation, the financial impact of the 13 November 2015 attacks in Paris is now becoming clear.

Air France-KLM estimates the impact on its own revenue at 50 million euros (AUD 76.3 million) – but the airline says it feels the situation will normalise by the end of this month.

The French-Dutch airline group said the attacks in which 130 people were killed “significantly impacted” November traffic to and from Paris, Qatar news centre The Peninsula reports.

Its planes had been carrying more passengers to and from Paris before the attacks, compared with the same month in 2014 – but then levels dived below last year’s rate.

“The negative impact of the Paris attacks on total November revenues is estimated to be around 50 million euros ($54 million),” Air France-KLM stated in its monthly traffic update.

“Current booking trends are in line with a progressive recovery including a very limited impact on volumes after the end of December 2015.”

As the Peninsula observes, the 50 million euros was just 0.2% of last year’s annual revenues, but was a much higher percentage of revenue earned through the airline’s key Paris hubs, although the airline doesn’t break out the figures.

Paris hotels and shops reported a sharp decline in business immediately after the attacks. It has since slowly begun to return to normal.

France is the world’s top tourism destination, by some measures, and tourism accounts for about 7% of gross domestic product.

Edited by William Sykes

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