PARIS — C2FO has announced their network’s latest customer Air France. The company is the first airline to offer its suppliers the C2FO programme, a voluntary and flexible solution they can use to request early payment of their invoices. Suppliers will have control over if and when they choose to participate in the programme, and also over the rate of discount they wish to offer in exchange for early payment.
“Confident in the validity of the working capital marketplace concept to create value, Air France wishes to endorse a successful trendsetter role. Innovation efforts in progress at Company level are here well exemplified in the Finance area. We trust industry participants involved in the airline supply chain will be soon onboarded to enhance liquidity and match interests by improving margins or capital needs,” says Marc Verspyck, Air France CFO.
The C2FO initiative resulted from a strong collaboration between treasury and procurement leaders at Air France. Air transport is a capital-intensive vertical, due in part to fuel price volatility and rising maintenance costs, as well as the need to invest in rapid technology evolution and fleet. The initiative, considered as a strategic use of working capital, enables Air France treasury and procurement teams to meet KPIs while delivering substantial value to their entire organisation and supplier base.
The C2FO and Air France relationship is a strong endorsement for our brand new strategic partnership with the International Air Transport Association (IATA) the trade association for the world’s airlines, representing some 290 airlines or 82% of total air traffic. Together, Air France, IATA, and C2FO share the mission to support the financial health of the airline industry supply chain.
“We are enthusiastic about the value-ad our working capital marketplace will deliver to the air travel sector. Airlines globally are impacted by ever growing cost pressures and volatility which C2FO alleviates through better use of cash and AP optimisation”, says C2FO Managing Director Antoine Trépant. “Air France is a pioneer in the sector and we are proud to join forces with them with the support of IATA to deliver incremental value across this high-potential industry.”
With the IATA partnership, C2FO can offer the airline industry and its supplier base a collaborative tool that helps airlines improve margins while supporting their supply chain with access to affordable, convenient cash flow to fund growth and invest in the development of new technology for the industry.