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Aeroports de Paris (ADPFP; NR/A-/BBB+) Paris Airport Strikes

TRANSPORTATION
  • Unions at ADP (parent of all 3 main Paris airports) have called for a one-day stoppage on July 17th to demand "bigger Olympics bonuses and staff recruitment" (reported by the AFP).
  • Unclear how much success it will have on the strike, but if it is successfully could be high-impact given timing; Olympics Opening Ceremony is on July 26th and traffic is expected to pick up into it.
  • More tail risks to add to Air France-KLM (NR, BB+, BBB-) . It's already flagged -£160-180m headwind to June-August revenues from what it sees as people avoiding Paris. 1H results (to June) come in two weeks.

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