PARIS, Nov 7, 2024 (BSS/AFP) - Air France-KLM posted a sharp drop in its net profit for the third quarter on Thursday as travellers avoided Paris during the Olympic Games.

The Franco-Dutch group reported a profit after tax of 824 million euros ($887 million), down 13 percent from the same three-month period last year.

Revenue took a 160-million-euro hit due to "less international inbound traffic to Paris and less travel from France as a consequence of the Olympic Games", Air France said in an earnings statement.

"The third quarter revealed mixed trends for the Air France-KLM Group," CEO Benjamin Smith said.

"Revenue continued to rise, driven by increased capacity and strong underlying demand. However, operating income was significantly affected by the Paris Olympic Games," Smith added.

The group also estimated that its tax bill would rise by 280 million euros if the French government implements a planned new tax on the aviation.