The COVID-19 epidemic, which shut down the global economy and limited travel, has reeled the airline industry, forcing it to adopt appropriate means to curb the situation.
American Airlines partners with Winding Tree
Winding Tree, an Ethereum-based decentralized travel marketplace, has announced a new partnership with American Airlines to enable select customers to get customized booking alternatives, potentially opening up a new use case for blockchain technology.
The firms stated that as a result of the partnership, America’s most significant corporate travel buyers would have direct access to Winding Tree’s marketplace, where they will be able to book, travel, and obtain specially personalized and cost-effective travel alternatives.
Benefits of Winding Tree
Winding Tree, according to Neil Geurin, American Airlines’ managing director of digital and distribution, provides consumers with a streamlined method to acquiring travel accommodations. According to Winding Tree, their marketplace allows for various peer-to-peer relationships in the travel and aviation industries. The marketplace has already partnered with Air Canada, one of North America’s top airlines, in addition to American Airlines.
With nearly 95.3 million passengers served in 2020, American Airlines is the biggest passenger airline in North America. Prior to the Covid-19 pandemic, passenger traffic peaked at 215.2 million in 2019. American reported a third-quarter net profit of $169 million, or $0.25 per diluted share, on $9 billion in sales in October. Revenue increased by 20% over the previous quarter.
Covid-19 outbreak wreaks airlines
The Covid-19 outbreak wreaked havoc on airlines as governments clamped down on their economies and prohibited both internal and international travel. According to the Airports Council International, the epidemic would have displaced over 1 billion travelers by 2020. According to Pedro Anderson, co-founder of Winding Tree, the pandemic ushered in a total paradigm change in travel, emphasizing the need for innovation.
According to Sita, an air transportation technology vendor, 59 percent of airlines were already testing or studying blockchain technology solutions for internal procedures in 2020. According to Accenture, 86 percent of aerospace and military businesses planned to deploy blockchain in the near future as early as 2018.
If you are ready to upgrade from your FREE telegram membership and see in a real time crypto trading signals and portfolio diversification of the ParadiseTeam, use BESTSIGNALS3% as the promo code and join PardiseFamilyVIP with this limited discount now ! You can choose from Binance VIP, Bitmex, Bybit or newly kraken and FTX vip as well.
