C2FO program takes flight with Air France and IATA partnership
29 January 2019 |
LEAWOOD, KS — C2FO, the world’s largest market for working capital, is proud to announce our latest partnership with the International Air Transport Association (IATA) to support the financial health of the airline industry supply chain.
IATA is the trade association for the world’s airlines, representing some 290 airlines or 82% of total air traffic. The company supports aviation activities including safety and sustainability and helps formulates industry policy on critical aviation issues.
“By matching the world’s AP and AR, C2FO is the lowest cost, most convenient source of capital that companies need to grow,” says C2FO Founder and CEO Sandy Kemper. “This mission makes C2FO, IATA, and Air France ideal partners as we seek to create value in the airline industry and share in our commitment to promote the global economy.”
Global air transport leader, Air France, is the first airline to offer its suppliers the C2FO program, 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 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 airlines supply chain will be soon onboard to enhance liquidity and match interests by improving margins or capital needs,” says Marc Verspyck, Air France CFO.
Established in 2008, C2FO is an industry leader in true dynamic discounting for businesses around the world. The C2FO “Name your rateTM” model lets businesses improve cash flow by offering their customers a discount they determine in exchange for early payment of invoices.
“IATA is pleased to see its Members onboard innovative solutions,” says Aleks Popovich, Senior Vice President, Financial and Distribution Services at IATA. “This new partnership between Air France and C2FO is a clear example of how the airline industry can realize win-win opportunities which benefit airlines and their suppliers. IATA is committed to support innovation as an enabler for sustainable financial health for the aviation industry.”
Through the cooperation with IATA, C2FO can provide the airline industry and its supplier base with 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.
IATA (International Air Transport Association) represents some 290 airlines comprising 82% of global air traffic. For over 70 years, IATA has developed global commercial standards upon which the air transport industry is built.
About Air France
Founded in 1933, Air France is the number one French airline and, together with KLM, one of the world’s largest air carriers by revenue and passengers transported.
C2FO is the largest working capital marketplace in the world. Companies across the globe use C2FO to improve their financial position every day. C2FO is a leader in retail, industrial, manufacturing, energy, healthcare, technology, telecom and transportation sectors.