Air France-KLM is now exploring the use of blockchain technology in travel space to improve its customer experience, cut cost for flyers and also increase in profits for suppliers by cutting out middlemen from the process.
The airline has signed a partnership agreement with Winding Tree, a blockchain specialist in the travel industry to help the airlines with development and test of the blockchain-based system. The airline is hoping that the partnership will be more beneficial for customers, and will also help them to lift some pressure of tight-margins and intense competition.
Other airlines such as British Airways, Lufthansa are already working on the use of blockchain technology with Lufthansa striking a similar deal with Winding Tree. Sita, a Research Group has already completed the trial phase of blockchain technology with British Airways, Heathrow and Miami airports for improving flight information status.
Sonia Barrière, EVP Strategy and Innovation at Air France-KLM said:
“We are proud to be one of the first airline groups to join Winding Tree to develop Blockchain technology.”
“Air France-KLM is constantly creating the future of travel and devising solutions to make the travel experience easier and more personalized. With Blockchain technology, we aim to revolutionize exchanges within the travel industry for our customers, companies and start-ups.”