The Aviation Factory once again set the tone in 2021, as the first major aviation broker in Europe to accept payments in cryptocurrency for its flights. Anyone who wants to rent a private jet can now also pay for their flight with Bitcoin, Ethereum or other cryptocurrencies.
This is thanks to a cooperation with our partner BitPay.com, the world’s largest provider of Bitcoin and cryptocurrency payment services.
The ability to accept cryptocurrency enables us to attract new customers and sales by tapping the massive crypto marketplace, expanding the market for private jet rental to a broader cross-section of enthusiasts and travelers.
"During the lockdown, many young people took an interest in share and cryptocurrency trading. Some of them did not shy away from the risks and made huge profits. These millennials are living in the present and have no qualms about booking a private jet to celebrate their success. A new group of private jet users has actually emerged: the ‘Robinhood generation’, named after the well-known stock exchange app. Some customers asked whether they could pay for their flight in crypto. That is from now on possible. In addition to bitcoin, The Aviation Factory also accepts Ethereum and some other cryptocurrencies as a means of payment.
Cryptocurrency has become a significant part of the financial landscape and is now the way many people are choosing to conduct transactions on significant investments. We want to maintain true to the needs of our clients as well as those who are just getting into the private jet rental market. The role that cryptocurrency will play within the private jet market will only expand in the future,” said Carl Legein, CEO at The Aviation Factory.
We benefit by adding cryptocurrency to our payment options, increasing payment transparency and efficiency. BitPay pioneered blockchain payment processing to enable borderless payments using cryptocurrencies like BTC, BCH, DOGE, ETH, LTC, WBTC, and stablecoins BUSD, DAI, GUSD, USDP, and USDC. Their business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency. BitPay provides us with immediate settlement the next business day, directly to our bank account in our local currency. There is no cryptocurrency price volatility or risk to the consignor or the company.
We realize the potential for crypto to transform the aircraft rental market, making payments faster, more secure, and less expensive on a global scale.
Because of these advantages over traditional payment methods, we predict that in the coming years 20 to 30% of all private jet flights will be paid with cryptocurrencies like Bitcoin and through platforms like BitPay. For 2022, some 500 flights paid with crypto seem like a realistic scenario for our company.
Ready to book your next private flight with bitcoin or other cryptocurrencies? Get in touch with our team today, or scroll down to our price calculator and receive a custom quote in seconds!