Bitcoin Adoption: UK airline reports receipt of 19% ticket payments in Bitcoin

Bitcoin’s come a long way… gone are the days when people used BTCs to buy pizzas! Recently, a UK-based private airline company announced that it received 19 percent of its annual revenues from customers who paid Bitcoin fares.

The airline, PrivateFly, has previously found that transactions in digital currency accounted for a negligible amount of its income. However, in the last two months alone, more travellers have used BTC as a common form of payment. In addition, these Bitcoin-paying passengers bought tickets for more costly flights, further adding to the income of the airline.

According to PrivateFly, those payments made in Bitcoin accounted for 19 percent of the company’s revenue. In addition, 13 per cent of flights were paid via BTC in January, compared to the usual 1-2 per cent per month in the past.

The airline began accepting payments in Bitcoin in 2014 and claims to have “leaded the way” as one of the “first global private jet companies” to accept payments in the crypto.

CEO Adam Twidell said that some BTC paying clients are looking to realise their gains, while others are looking to hoard their crypto in hopes of future increases. He added further:

“So, in addition to taking out a membership with us in Bitcoin and converting the account funds into traditional currency… We now offer a membership program that allows the account funds to stay in Bitcoin.”

According to the PrivateFly website, members of the “Bitcoin Jet Account” will position their funds on their BTC accounts and will then be paid for potential flights on the basis of the value of the crypto at the time of booking – “a lot like any other currency.”

Other airlines that accept Bitcoin as a currency for transactions include LOT Polish Airlines, AirBaltic, and Japan-based Peach Airlines, most recently.