Air France-KLM says Paris attacks cost firm €50m

Air France-KLM says Paris attacks cost firm €50m

Last month’s terror attacks in Paris cost Air France-KLM about €50 million during the remainder of November. 

While daily ticket sales have generally recovered from the November 13 atrocity, a slump in bookings in the immediate aftermath has left thousands of seats unsold stretching into next spring, Bloomberg reported.

The Japanese market, one of the biggest for tour groups to the French capital, has been worst hit, Air France-KLM chief financial officer, Pierre-Francois Riolacci, told the financial news outlet.

Last month’s attacks further undermined demand that had slumped since the January 7 assault on the offices of French satirical magazine Charlie Hebdo.

North America was also badly affected, whereas the impact on travel from China was minimal since the media there did not give the same blanket coverage, Riolacci said.

Passenger traffic fell 0.8% on short- and medium-haul routes in November, although overall passenger numbers across the network rose by 0.3% to 6 million against the same month last year.

Air France-KLM said: “The negative impact of the Paris attacks on total November revenues is estimated to be around €50 million.

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

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