Blockchain technology has permeated various industries, including finance,education, agriculture, and health.
The aviation sector is also not left out of the impact of blockchain technology. This is where Avionex comes in to make operations seamless, reduce waste, and improve profit for business owners in the sector.
Enes Yedikardeş, the founder of Avionex, discussed the startup at Istanbul Blockchain Week 2023. Having been immersed in the industry since his childhood; Enes was born into a family that has worked in the sector.
Based on his presentation, gave him a headstart in understanding the challenges in the sector and how to utilize blockchain technology to solve the problems
According to the founder, Avionex seeks to tackle the challenges that have long plagued traditional aviation systems, particularly in the realms of payment, booking, and efficiency.
Recognizing the constraints of existing systems and their inability to keep pace with the demands of modern aviation, the visionary team behind Avionex turned to blockchain technology for solutions.
Enes said that the company’s idea is to monetize empty-leg operations and private jets. The term “empty leg,” also referred to as a “repositioning flight,” describes a scenario where an airplane is deployed on a mission without passengers on board.
This can occur when an aircraft has been chartered for a one-way flight, and the return leg of the journey becomes available for resale.
He noted that often, private jets return empty after a trip, incurring costs for the hirer. In order to solve this problem, Avionex, with the help of blockchain technology, introduces tokenization and NFT (Non-Fungible Token) services to commercial airlines, ushering in new revenue streams and loyalty features.
How it functions
“We specialize in turning empty-leg flights into profitable ventures, making private jets accessible to everyone,” explained the founder.
The key lies in Avio-leg, Avionex’s solution that sells empty-leg flights to parties within its ecosystem.
He explained that this approach has the potential to significantly reduce the cost of private jet travel. Instead of the traditional price tag of up to $20,000, passengers can enjoy the same experience for as little as $7000.
Here, users of the Avio-leg platform can have access to the schedules for airplanes, especially private jets, to know where they are headed and are given the privilege of making bookings in line with the trip.
Thus, payments are made on a blockchain-based infrastructure with enhanced security systems, empty-leg situations are cut down, and the cost of traveling with a private jet is reduced for clients.
A service-based platform for other airlines
Furthermore, the founder noted that the service-based framework of Avionex makes it possible for other aviation companies to build personalized services, leveraging Avionex’s infrastructure to enhance their operations.
The company also offers NFT (Non-Fungible Token) loyalty benefits to members who use affiliated airlines. This unique approach adds an element of engagement and value for travelers while creating a seamless ecosystem for the aviation industry.
Such NFTs can be used to offer benefits, such as bonuses, to customers of airlines on the Avionex platform.
The Aviation Expert noted that after establishing a strong foothold in the private jet sector, Avionex aims to expand its solutions to the entire aviation industry. AvioSuper App will be released before the end of the year.
