TITAN AIRWAYS LIMITED
Company number: 02212225
Reporting period:
1 April 2023
to 30 September 2023
This report was filed on 11 January 2024
and approved by Stefan Payne
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 76%
- in 31 to 60 days: 19%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 24 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
30 days is the standard payment terms extended to us by our suppliers. These invoices will be paid in our payment runs
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
If an invoice falls overdue we will look to understand where the invoice currently sits in our system and work towards resolving any queries that may have arisen. We will communicate to our suppliers to inform them
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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.
Yes
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No