Written by The Ft. Lauderdale-based operator and charter company joins Star Jets International in accepting the cryptocurrency
Ft. Lauderdale based private jet management company Monarch Air Group has added Bitcoin as an accepted form of payment for its charter customers. According to a press release received by Private Jet Card Comparisons, the company stated, “In a fast-paced market that thrives on time-efficiency, being subject to the limitations of banking hours is not an option for today’s global private jet customers.”
Rishi Maharaj, Executive Account Manager for Monarch Air Group adds, “In a world where the business aviation market is more of a necessity than a luxury, as an industry leader, Monarch, is among the first in line to evolve and accept the new currency. We at Monarch continuously enhance and streamline our booking process, with methods like digital contracts, live online quoting and no membership fee charter programs”.
Monarch Air Group expects that Bitcoin could account for the form of payment for 3-5% of flights in 2018. “It might be even more; a fact that wouldn’t come as surprise for us due to the steady increase in transactions registered on a yearly basis,” says Maharaj.
Bitcoin’s transaction volume in 2017 raised to $260 million per day, up 55% in 2017 as reported by Cointelegraph.com.
Established in 2005, Monarch Air Group sells on-demand private jet charter, provides aircraft management and long-term aircraft leases. Monarch’s customers include Fortune 500 corporations, leading entrepreneurs, government agencies and world-leading NGO’s, the company says.
Last month Star Jets International announced it had started to accept Bitcoin. Bitcoin is a worldwide cryptocurrency and digital payment system without a central repository or single administrator.
One reason prepaid jet card membership programs have become popular is they eliminate the need to transfer money for each flight. Star Jets accepts Bitcoin for both jet cards and on-demand charter. Bitcoin also provide privacy for the sender as the payer does not have to provide their real name.