News Release

The Aviation Factory lets clients pay for private jets with Bitcoin and other cryptocurrencies

The Aviation Factory has once again set the tone in 2021 as the first major aviation broker in Europe to accept payments in cryptocurrency for its flights. Anyone who wants to rent a private jet with the Belgian headquartered charter brokerage can now pay for their flight with Bitcoin, Ethereum or other cryptocurrencies.

This is thanks to a cooperation with its partner BitPay.com, the world's largest provider of Bitcoin and cryptocurrency payment services. The ability to accept cryptocurrency enables The Aviation Factory to attract new customers and sales by tapping the massive crypto marketplace, expanding the market for private jet rental to a broader cross-section of enthusiasts and travellers.

"During the lockdown, many young people took an interest in share and cryptocurrency trading," says Carl Legein, CEO at The Aviation Factory. "Some of them did not shy away from the risks and made huge profits. These millennials are living in the present and have no qualms about booking a private jet to celebrate their success. A new group of private jet users has actually emerged: the 'Robinhood generation', named after the well-known stock exchange app. Some customers asked whether they could pay for their flight in crypto. That is from now on possible. In addition to Bitcoin, The Aviation Factory also accepts Ethereum and some other cryptocurrencies as a means of payment.

"Cryptocurrency has become a significant part of the financial landscape and is now the way many people are choosing to conduct transactions on significant investments.," Legein continues. "We want to stay true to the needs of our clients as well as those who are just getting into the private jet rental market. The role that cryptocurrency will play within the private jet market will only expand in the future.”

The Aviation Factory benefits by adding cryptocurrency to its payment options, increasing payment transparency and efficiency. BitPay has pioneered blockchain payment processing to enable borderless payments using cryptocurrencies like BTC, BCH, DOGE, ETH, LTC and WBTC, and stablecoins BUSD, DAI, GUSD, USDP and USDC. Its business solutions eliminate transaction fraud, reduce the cost of payment processing and enable borderless payments in cryptocurrency. BitPay provides The Aviation Factory with immediate settlement the next business day, directly to its bank account in its local currency. There is no cryptocurrency price volatility or risk to the consignor or the company.

The company realises the potential for crypto to transform the aircraft rental market, making payments faster, more secure and less expensive on a global scale. Because of these advantages over traditional payment methods, it predicts that in the coming years 20 to 30% of all private jet flights will be paid with cryptocurrencies like Bitcoin and through platforms like BitPay. For 2022, some 500 flights paid with crypto seems like a realistic scenario for the company.