Travelers on Norwegian Air may be allowed to pay tickets with crypto

Travelers on Norwegian Air may be allowed to pay tickets with crypto

  • Ali Raza
  • 21st February, 11:26
  • The Scandinavian largest airline, Norwegian Air, might soon introduce cryptocurrency as a payment method for its flights.
  • The company, which is also the third-largest airline in Europe, plans to add crypto support through a partnership with the Norwegian Block Exchange (NBX).
  • It is not known which coins the company might start accepting, but the support for crypto could come as soon as in the spring of 2020.

Norwegian Air, one of Europe’s largest airlines, seems to be at the brink of accepting cryptocurrency payments for booking flights. The move was recently revealed by Stig Kjos-Mathisen, the CEO of the Norwegian Block Exchange (NBX). He revealed that his platform has been working on a payment infrastructure that Norwegian Air plans to use for purchasing tickets via digital currencies.

Now, Kjos-Mathisen reported that everything is ready from the developers’ side and that the airline might roll out the new feature rather soon — maybe during the spring, but almost certainly in 2020.

Norwegian Air develops an interest in crypto

With Kjos-Mathisen being the son-in-law of Bjern Kjos — the CEO and founder of Norwegian Air — he is certainly a reliable source. Furthermore, the two seemingly had a plan to introduce cryptocurrency support for airline ticket purchases by using the exchange from the start.

The interest in crypto is rising significantly in Norway, and it has for quite some time. Last September, one of the country’s oldest banks acquired around 16.3% in NBX for $1.6 million. The exchange then opened, allowing beta users to test their systems. Right now, it is available to everyone who wishes to trade on its platform.

As for Norwegian Air, it was founded in 1993, and it became the largest Scandinavian airline, as well as the third-largest one in Europe. It offers flights across the entire continent, as well as to some locations in North Africa, and even in the Americas. The company also saw excellent performance recently, with its reported quarterly results last October sitting at 2.2 billion Norwegian kroner ($215 million).

The company reported carrying 37 million people in 2018, which is its personal yearly record. So far, it is unknown which coins will be supported, although it is known that the founder’s son had invested 3.5 million Norwegian kroner in BTC back in 2017, just before BTC surged to $20,000.

By Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications. Raza is the co-founder of 5Gist.com, too, a site dedicated to educating people on 5G technology.

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