TravelX and Kiu Partner to Enable 73 Airlines to Distribute Inventory via Blockchain

 Alliance makes Kiu the first Passenger Service System (PSS) to integrate this technology

MIAMI, FL - May 4, 2022 - Today, TravelX, the company building the travel industry's first blockchain-based distribution protocol, announced a partnership with Kiu System Solutions via Kiu PSS - the platform’s comprehensive commercialization solution for airlines that provides a set of tools to manage inventory, reservations and tickets. This alliance enables 73 airlines that operate through Kiu PSS to tokenize and distribute their inventory as NFTs through the blockchain ecosystem.

“At Kiu, we are focused on developing innovative and efficient solutions. This has been possible due to our vast experience in the industry and our desire to constantly provide new and better technologies to our clients and passengers. Through this partnership with TravelX, we are excited to provide a new and completely innovative sales channel to our customers,” commented Alberto Desimone, CEO and co-founder of Kiu.

The strategic alliance allows airlines operating with Kiu to dramatically reduce distribution and transaction costs and increase revenue, while improving the traveler experience, by tokenizing and globally distributing inventory as NFTickets. These NFTickets can be exchanged between actors in the blockchain network in accordance with smart contracts or parameters predefined by the service provider, generating additional revenue streams. Additionally, through transactions on the blockchain, refunds and exchanges are immediate and governed by automatically executed smart contracts, which saves money and time associated with customer service.

“We are very excited to be a part of the industry's first integration between a blockchain distribution protocol and a PSS with the global reach of Kiu. Through this alliance, more airlines will be able to experience the benefits that tokenization and blockchain provides in terms of cost efficiencies and revenue generation.  And, our partnership makes this all possible without the need for additional investments or technological developments from the airlines, as tokenizing their inventory through blockchain is as easy as updating their agreement with Kiu,” adds Juan Pablo Lafosse, CEO and co-founder of TravelX.

TravelX was born in 2021 to reimagine the travel industry and accelerate its adaptation to Web3. 

One of TravelX's most innovative propositions is the tokenization of E-tickets, evolving them into NFTickets. This is possible at the moment thanks to the maturity that the blockchain network has reached in recent years and the integration of this technology with the traditional financial world.

The company plans to launch its first service and marketplace later this year. For more information on TravelX, visit https://www.travelx.io.

About Kiu
Kiu System Solutions is one of the world leaders in providing multihosting inventory, reservation and issuance systems under a 100% e-ticket format that also offers a set of integrated solutions adaptable to any airline model. With almost 20 years in the market, Kiu has 11 offices worldwide and more than 150 collaborators. Today, Kiu has 73 airlines that manage their inventory with Kiu PSS in 32 countries and on 4 continents, and additionally, 148 airlines distribute theirs through Kiu GDS, in more than 80 countries. Through its global distribution system, Kiu GDS, 34,000 travel agencies with 220,000 sales agents operate daily.

About TravelX
Led by a team of travel and technology industry veterans with a track record of pioneering change, TravelX is building a blockchain-based distribution protocol developed to create a safer, decentralized, frictionless, transparent and efficient travel industry. The company's technology enables travel suppliers to tokenize their inventory in NFT, unlocking distribution capabilities and use cases that improve both traveler flexibility and supplier profitability.