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EQS-News News vom 28.07.2017

​S7 Airlines in partnership with Alfa-Bank launches new airline ticket sales solution based on Ethereum

EQS-News / 28/07/2017 / 04:06 CET/CEST

S7 Airlines in partnership with Alfa-Bank launches new airline ticket sales solution based on Ethereum

S7 Airlines and Alfa-Bank announce the launch of an innovative blockchain platform for sales automation. The private blockchain is built on Ethereum protocol, providing for informative interaction with business partners by means of smart contracts when making payments.

The current platform configuration includes S7 Airlines and ticket selling agents as business partners. Payments are made by Alfa-Bank, which receives information on performed operations from the network host included in the private blockchain. The system automatically performs the whole cycle of operations, including execution of payment application, verification of adequacy of funds deposited in the account, writing off of amounts, and status updates.

This is the first project that has an infrastructure for payments in constant mode, ranging from the ticket booking system to the bank payment system.

The introduction of the Ethereum platform has provided opportunities for considerable optimization of business processes, both for the airline and for its partners. The speed of settlements has increased from 14 days to 23 seconds. The airline does not provide deferred payment to the agent and receives revenue right after issuance of the flight ticket. Thanks to such technology, agents can work directly with the airline without any additional financial guarantees. The technology also allows for reducing document flow and guarantees the security of operations.

"We have made the world's first transaction for flight ticket purchases through the open API blockchain to the bank, but I am sure that such a pattern will soon be used by many companies all over the world. The blockchain platform allows optimizing business processes significantly. It automates any mutual payment pattern, even a very difficult one, such as warehouse supplies, for example. Human participation is almost unnecessary when using such an instrument: there is no need to issue invoices, perform reconciliations, and prepare certificates. Caterers, fuel, and airport service providers, i.e. all the companies that S7 Airlines deals with constantly, and not only these such vendors, can be potentially connected to the platform," - says Pavel Voronin, Deputy General Director for Information Technologies of S7 Group.

"We see the demand for blockchain on the market and plan to further develop and replicate this solution both together with S7, and with other bank clients who are using the agent-based system in their distribution," - notes Petr Zubritsky, Payment Project Development Manager of Alfa-Bank.

Later on, by means of this technology, S7 Airlines plans to stop using the deposit pattern for mutual payments and bank guarantees and to switch information support of repeated business processes related to approval procedures and bank payments to this platform. In particular, this approach will support interaction with providers of goods and services in airports.

Airline tickets for S7 Airlines flights are available for purchase on the website, as well as through applications for iPhone and Android, and in all sales offices. For precise flight information, ticket booking, and purchasing, you can also dial the airline's contact center at 8-800-700-07-07 (free call throughout Russia).

S7 Airlines ("Siberia" airlines brand, is a member of the oneworld(R) global aviation alliance.

The airline has a wide internal route network, created on the basis of air transport hubs in Moscow (Domodedovo) and Novosibirsk (Tolmachevo). S7 Airlines also performs regular flights to countries of the Commonwealth of Independent States (CIS), Europe, the Near East, Southeast Asia and countries of the Asia-Pacific region.

In 2007 the company received an official IATA certificate as an IOSA (IATA Operational Safety Audit) operator, becoming the second air carrier in Russia to have successfully passed the full international audit procedure for compliance with operational safety standards.

S7 Airlines is one of the most reliable airlines of Russia, it implements latest achievements of the world's industry in passenger services and develops its own services dynamically.

Today S7 Airlines has the newest and one of the most modern aircraft fleets on the Russian air transportation market. All flights of the airline are performed by the aircraft of the world's leading manufacturers.

S7 Airlines is in top 100 of the best airlines of the world and ranks third in the Eastern Europe, as indicated by the authoritative international rating Skytrax.

S7 Airlines was a multiple winner of the Wings of Russia National Aviation Awards in different categories.

S7 Airlines was a multiple winner of the Cannes Lions advertising festival awards for implemented projects, and My Planet National Awards for discoveries in travel sphere.

S7 Airlines won "Best Russian Airline" at 2015 National Geographic Traveler Awards.

At the end of 2016, S7 Airlines became the winner of Skyway Service Award aviation award in three categories: the best airline in category "Economy Class, Domestic Scheduled Services", "Best Loyalty Program" and "Best Online Customer Services."

The airline is a member of the S7 Group of companies. In 2016 Group member airlines carried more than 13.1 million passengers

Document title: ​S7 Airlines in partnership with Alfa-Bank launches new airline ticket sales solution based on Ethereum

28/07/2017 Dissemination of a Marketing Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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