Credit risk in Travel
The sad demise of Thomas Cook has not only had a devastating impact on its former 22,000
employees, but also on its creditors.
According to the largest independent provider of trading, risk and Brady PLC.
At (www.bradyplc.com/news/thomas-cook-credit-risk-exposure) the largest independent provider of trading, risk and supply chain management software to the global commodity and energy markets, Brady PLC (https://www.bradyplc.com) discusses the key risks to monitor when trading with a counterparty in the travel and tourism sector.
Tourism is highly vulnerable and exposed to a wide range of risks, such as weather, terrorism, political unrest as well as budget online operators moving into the traditional High street marketplace.
More than ever before, companies which deal with the sector need to support their robust credit risk policies with next generation credit risk management software (www.bradyplc.com/credit-risk) that not only automates workflow and manages limits, but also scans for key market news and activity to alert on potential risks.
With airports impounding Thomas Cook aircraft due to non-payment of airport fees, the fight for debts to be paid has already begun.