Air France-KLM, a European airline holding company and Winding Tree, a blockchain powered decentralized ecosystem have partnered together to reduce costs for the company by using blockchain technology to cut out intermediaries.
On 4th October, the partnership was revealed in a press release on the companies official website.
Air France-KLM, the 5th largest airline company by revenue in 2018, believes that blockchain technology would help to provide its customers a better offer by reducing the number of intermediaries.
Air France-KLM executive vice president for Strategy and Innovation, Sonia Barriere stated that “Blockchain technology would revolutionize exchanges within the travel industry for companies and customers.”
Air France-KLM is one of the many airline companies that have partnered with Winding Tree.
The startup has partnered with Austrian and Brussels Airlines, Lufthansa, Swiss Air, Air New Zealand, and Eurowings and also hotel chains in Scandinavia and Baltic Region and Scandinavia.