Thomas Cook Airlines exhibits a consistent trend of extended payment cycles, with an average payment time of 56 days, significantly beyond typical 30-day terms. A substantial majority of payments (62%) are late, distributed across 43% paying between 31-60 days and 19% exceeding 60 days.
The high percentage of late payments (62%) indicates low reliability and predictability regarding payment timelines for suppliers. The significant portion of payments falling into the 31-60 day and over 60-day categories creates considerable cash flow uncertainty and elevated operational risk.
Given the consistent delays and high late payment rate, suppliers should approach engagements with Thomas Cook Airlines with caution. Key decision factors include a supplier's capacity to absorb extended payment cycles and the potential for mitigating risks through upfront payments or stricter contractual terms.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Oct 2018 - 31 Mar 2019 | 01 May 2019 | 61 | 20% | 56% | 24% | 66% |
| 01 Apr 2018 - 30 Sept 2018 | 31 Oct 2018 | 56 | 38% | 43% | 19% | 62% |
| 01 Oct 2017 - 31 Mar 2018 | 30 Apr 2018 | 52 | 23% | 57% | 20% | 63% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 60 days. The longest contractual payment terms used are 90 days. There have been no changes to standard payment terms in the reporting period. Specific payment terms for aircraft fuel – 7 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
All invoice queries are dealt with by the in-house Accounts Payable teams. Disputed items are escalated to appropriate Management as necessary.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
THOMAS COOK AIRLINES LIMITED was a private limited company that operated within the airline industry. The company is currently in liquidation.
Incorporated on 21 April 1986, the company was registered in London with company number 02012379. Its registered office is located at C/O Alixpartners Uk Llp, 6 New Street Square, London, EC4A 3BF.
Companies operating as airlines in the UK market typically provide scheduled and charter passenger air transport services. This includes operating flights to various destinations and offering related travel services.