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February 2018
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Monarch Air Group finds cryptocurrencies speed up booking

Florida-based Monarch Air Group has recorded its first bitcoin transaction for a flight from Pittsburgh to Massachusetts just weeks after introducing the cryptocurrency as a payment method.

The company had noticed a trend regarding the use of cryptocurrencies for booking private flights, especially over the last three months, which it attributes to the perceived speed and security they can bring for high value charter payments.

“It has been an interesting development to see how our clients are starting to experience this new payment method,” says executive director David Gitman.

“Traditional transactions still account for the vast majority of our flights, and will continue to do so in upcoming years. But our clients asked for this alternative and we delivered; now it's up to them to continue driving the record growth of cryptocurrencies.”

However, there is high fluctuation in crypto coin prices: “The unstable nature [of bitcoin] will prevent some clients using it as their primary paying method. But one thing is certain, the digital nature of cryptocurrencies plays well with today's digital charter booking systems, allowing clients to click their way to their next destination without a middleman in the process.”

Money can be transferred outside of business hours and the passenger's payment should be processed within 30 minutes.