S7 Airlines Experiences Increased Inflow Through Blockchain Payments Platform

By Prashant Jha

S7 Airlines, an aviation major that is a part of the worldwide aviation group Oneworld, has reportedly processed more than $1 million via its blockchain payment platform in the month of July, 2019. In total, it has processed more than $4 million via the same blockchain-based system since the month of January this year.

This data was intimated to the public through an official press release published on the 30th of July. The release also informed us that the airlines company has seen substantial rise in the number of transactions processed through the blockchain platform of late. It has really been reaping the benefits of its blockchain-based sales network, which had been created in collaboration with Alfa-Bank, the largest private bank in Russia.

Ekaterina Dmitruk, S7 Group Sales Director, commented:

“Thanks to this new technology, now it’s easier for our agents to work directly with the airline, which allowed us to expand our own S7 Airlines sales network. Within this year, we are planning to deploy first online agents, whose work would comply with the NDC standard, on the platform.”

Nikolai Mukhanov, who is an executive director working with the S7 Techlab, stated that the platform has enjoyed a rise in the number of other automated processes alongisde the tenfold growth in number of payments since the month of January. Mukhanov has also emphasized on the fact that the platform has largely benefited from the merits of the Hyperledger Fabric platform.

Pavel Ryazanov, Director of Transaction Business at Alfa-Bank, said:

“The good results of our project with S7 Airlines shows that the blockchain technology creates value and is largely decisive for the B2B market. Agents left behind the guarantees and deposits, reduced transaction costs and now can make payments 24/7. We see great potential in the use of smart contracts and external business logic in accounting and paperwork in various sectors of the economy. Alfa-Bank will continue going in this direction with S7 Airlines.”

Clearly, the adoption of blockchain technology is soaring to new heights everyday, and this success is proof that it can give rise to even better results within the air travel industry.