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European airline bankruptcies

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Once again airline bankruptcies are hitting the news headlines. At the time of writing, October 2019, 2019 has witnessed fewer cessations than previous years, however the companies have been on average larger and there have been record numbers of stranded passengers. Approximately 5% of European airlines cease operating each year. source: www.companydatashop.com The economic cost of bankruptcies is very high. For Thomas Cook the costs were: about 600,000 passengers were stranded in a foreign country and had to be repatriated. About 150,000 of them British citizens which  took about 750 flights to bring them home. 60% of the cost was cost was covered by ATOL. 21,000 people loss their jobs The company had £1.7 ($2.1) billion in debt Thomas Cook Aigle Azur FlyBMI List of most recent cessations: Year Airline Country 2019 Adria Slovenia 2019 Aigle Azur France 2019 Buryat Airlines Russia 2019 FlyBMI UK 2019 Ger...
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Statistics on UK late and unpaid invoices

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The source of this article on non payment and late payment statistics is :  https://www.disputesregister.org/advice/late-and-unpaid-invoices-uk-statistics Main findings 20% insolvencies due to late payments  30% of invoices not settled within agreed terms Big companies are 30% worse payers than small companies Manufacturing companies worse payers than service companies Legal and Accounting companies are the worse 90% of small company managers unable to credit score clients Company size The best 20 companies surveyed have about 35% of the revenue of the worse 20. The chart below shows  companies with sales between £10m and £100m, are worse payers the bigger the company (30 days to 39 days).  Payment times by Industry Some industry sectors are worse than others. Generally manufacturing is worse than service though there are many exceptions. SIC category (Average days to pay) 6.9 - Legal and accounting activities (74) 5....
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