Ethereum-based decentralized travel marketplace Winding Tree has announced a new partnership with American Airways that will enable select travelers to receive bespoke booking options, opening a potential new use case for blockchain technology.
The partnership will give America’s largest business travel buyers access to Winding Tree’s marketplace to book trips directly and receive “uniquely tailored travel options and cost savings,” the company said. Neil Geurin, American Airlines executive director of digital and distribution, said Winding Tree gives customers “an easy way” to access travel accommodations.
Winding Tree says its marketplace includes all kinds of peer-to-peer connections for the travel and aviation industries. In addition to American Airways, the market already has a partnership with Air Canada, one of the largest airlines in North America.
American is the largest passenger airline in North America, handling more than 95.3 million passengers in 2020.
Passenger traffic peaked at almost 215.2 million in 2019, before the Covid-19 pandemic. In October, American posted third quarter net income of $ 169 million, or $ 0.25 per diluted share, on sales of $ 9 billion. Sales increased by 20% compared to the previous quarter.
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# COVID-19: We estimate that the airline industry’s passenger revenue could decrease by $ 252 billion, or 44% less than in 2019.
– IATA (@IATA) March 24, 2020
Airlines are devastated above Covid-19 pandemic as governments lock down their economies and restrict domestic and international travel. According to Airports Council Worldwide, the impact of the pandemic has resulted in more than 1 billion passengers being canceled by 2020. Winding Tree co-founder Pedro Anderson said the pandemic created a “complete transformation of the world” with innovation at the fore.
In 2020, aviation technology provider Sita estimates that 59% of airlines are already testing or researching blockchain technology solutions for their internal processes. According to Accenture, as of 2018 and beyond, an estimated 86% of aerospace and defense companies plan to adopt blockchain in the near future.