Debt Collection for the Luxury Travel sector
Debt Collection for Luxury Travel
Whilst most of the people visiting any of the UK’s major airports will be travelling on an Airbus, Boeing 747 or similar jets, there are still a large number of private and executive travel aircraft active across the world’s skies.
There are a few ways in which private jets operate, which include one-off charters, private plane seat rental and company-owned luxury private jets.
Each of the different types of Luxury Travel vehicles has something in common. They all use specially designated areas that exist within major passenger airports around the world.
The Luxury Travel Sector allows those at the very top of large businesses to enjoy unfettered access to efficient travel from point A to point B.
The reasons for using such ways of travel are because it offers some obvious benefits over mainstream scheduled passenger services.
In the UK, this particular industry is often perceived as a minor sector to those that have no intentions of using it, however, it only looks to be growing bigger in the coming years.
According to research produced by Allied Market Research, the sector will have generated around £1.159 billion to the economy by 2026. The research estimated that around 43% of the market share would be dedicated to the “Adventure and Safari” bracket of the industry.
There is a not-so “Luxury” side of this sector, however, as there are a lot of organisations that end up being owed a large sum of money by clients that use their services on an accounts basis.
Debt Collection For Luxury Travel – Operating Costs
Unsurprisingly, the organisations that will be offering Private Jet Services in the executive travel sector will have to bear the burden of considerable overheads in their operation.
From fuel costs and customs charges to airport administration charges, there are a number of things that need to be paid for when this service is provided to the client.
The cost of the flight itself can run into the thousands and if/when the customer pays on account, this could mean that a considerable sum of money can be accumulated. When situations progress to the point of haven’t to chase for payments, this can make things even more difficult.
Unpaid Private Jet Fees, or the non-payment of Private Limousine Hire, can have some serious negative effects on that particular company’s cash flow.
It will come as no surprise that if an organisations cash flow is affected, this can jeopardise the sustainability of the business.
In research conducted by SME Loans, it found that around 2.2 million people in the UK where not paid on time as a result of cash flow difficulties.
Debt Collection For Luxury Travel – Efficient, Cost-Effective and Professional
If a client has an outstanding account that needs to be paid, it is always recommended to work something out with the debtor beforehand through means of professional communication.
When faced with a delinquent account, the potentially large outstanding amount involved will undoubtedly necessitate action. The only true option for this is to instruct the professional and pragmatic services of a Debt Collection Agency.
A reputable Debt Collection Agency is an excellent alternative to resolving the situation quickly, hassle-freely and cost-effectively. This industry in particular caters to areas of business where professionalism is highly important – professional debt collectors fall into this category.
The process of professional debt collection is quite straightforward, in that they will send a clear indication to the debtor that the creditor means business. It is important to remember that all recovery work is delivered in a friendly and compassionate manner.
A trained and experienced debt collector has no interest in intimidating anyone or doing anything that’s going to make their client wish they hadn’t employed them.
Debt Collection For Luxury Travel – Take Back Control
In a large industry such as executive travel, there is an unfortunately large potential for non-paying clients to owe considerable amounts of money. Without an adequate method of recovery in place, your company could end up losing big in the long run.
This is one of the main reasons why a professional debt collection service performed by a reputable company such as Federal Management is so effective in remedying the situation.
There are alternatives, however, but these will no doubt come at a cost to the organisation. These come in the form of writing off the debt or dragging it through the courts.
Either of these options will doubtless leave you losing the will to live and losing much more in the financial costs associated with it.
Neither of these is palatable or necessary with professional debt collection by an accredited company.
Over our long history, we have recovered debts and unpaid invoices from all niches within the Luxury Travel sector, such as:
- Private Jet Hire
- Chauffeur and Limousine Hire
- Private Travel Expenses
- Private Yacht Hire
- Supporting Concierge Services
If you work within the Luxury Travel Sector and fall into any of the categories listed above, do not hesitate to speak to our friendly New Business Team today.
Our team of expert Debt Collectors are friendly and provide professional advice on our UK and International Debt Collection services.
We are the UK’s No1 in terms of Debt Collection for Luxury Travel!