Despite TSA hitting all-time record high traveler screenings here in the U.S., thousands of would-be tourists are instead opting for destinations other than the city of lights between the end of July and August when the quadrennial multi-sport event takes place.
Paris Olympics negatively impacts airline earnings for Delta, Air France
Earlier this month, Delta Air Lines CEO Ed Bastian said the carrier expects to see $100 million in losses during that period of time as a result of the lack in bookings to the company's key market of Paris-Charles de Gaulle.
"Unless you're going to the Olympics, people aren't going to Paris -- very few are," he first told CNBC. "Business travel, you know, other type of tourism is potentially going elsewhere."
Despite 15 million visitors expected in Paris for the Games, according to the Centre for Law and Economy of Sport, only 2 million of those are expected to come from overseas.
The Atlanta-based airline's international partner Air France has also forecast a loss upwards of $195 million, Bloomberg first reported, due to the reduced demand as travelers avoid the area.
The French national airline's parent group -- which includes Air France, KLM and Transavia -- said in a statement it estimates "a negative impact on its forthcoming unit revenues in an order of magnitude, from €160m - €180m for the period June until August 2024."
The carrier added that it expects things to normalize post-Olympics, "with encouraging demand levels projected for the end of August and the month of September."
Travel and flight expert Daniel Burnham, senior travel product operations manager for Going, told "Good Morning America" that the airline is "still likely to make money during the summer months, but just less than they would typically expect."
"The Air France-KLM group had revenues of €30 billion in 2023, and the projected shortfall due to the games is in the range of €150-€200 million. That’s still significant, but it’s important to look at the big picture."