Air Travel Payment Trends: 2021 vs 2022
Air Travel Payment Practices See Marginal Improvement: 2021 vs. 2022 (Up 1.0 Point)
The Comparison
- 2021: A study of 63 air travel companies revealed an average payment practices score of 61.5 out of 100. This benchmark reflects the sector's general approach to managing receivables and payables during a period still heavily influenced by pandemic-related disruptions.
- 2022: The same study, now encompassing 62 companies, showed a slight increase in the average score, reaching 62.6 out of 100. Despite a reduction in the number of companies surveyed, the higher average suggests a potential, albeit small, shift towards more efficient payment processing across the sector.
What This Means
The 1.0-point increase in the average payment practices score from 2021 to 2022 indicates only a marginal improvement across the air travel industry; while statistically positive, the change is small. External factors may be more influential on the overall financial health of the industry, such as broader economic trends and tourism recovery, or use our late payment calculator to understand the implications of payment practices.
The overall payment practices score increased from 61.5 to 62.6 across 63 and 62 companies respectively.
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