Recently, the Colibra app provides a new service to its users. They pay Bitcoin as compensation for flights delay. It means if your flight has delay for any reason, you will receive Bitcoin as compensation.
The COVID-19 pandemic affected the air industry as well. Consequently, a lot of flights experience delay or cancellation and it makes travelers unsatisfied. For this reason, the Bulgarian startup, Colibra, pays travelers Bitcoin in compensation. Travelers can register on this new app and receive the compensation within 24 hours after landing. The company announced that they will pay the compensation to the traveler no matter what reason the airline provides.
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Bitcoin as compensation for flights delay; Colibra adds crypto as payment option
Colibra app pays the compensation to the travelers who experience a flight delay of one hour or more. It’s for a while that this app is active and gives service to the travelers. Previously they used fiat currency for their payments, but now they added cryptocurrency as their payment option.
As we know, the Bitcoin price is volatile and fluctuates daily or even hourly. For this reason, travelers can either lock the price on the day they register for their price or the day they travel. For instance, if a traveler who booked a flight last week, lock the rate on the app when Bitcoin price was $11000, when he lands, he will receive the compensation within 24 hours. if the price of Bitcoin at the time be $12000 the flier will receive a decent return due to price growth.
Colibra announced that all travelers will receive the compensation, who experienced one hour or more delay no matter what reason the airline provides. In fact, compensation for three hours of delay is the standard for most airline in EU. Any flight, which has delay for more than 3 hours has to pay compensations to the passengers.