Launch of Airblox digital block space agreements

PRESS RELEASE

Airblox, a fintech company on logistics, creates the first ever tradeable digital block space agreement at Air Cargo Americas 2022.

Technology company will allow airlines and forwarders to create, exchange and manage electronic Block Space Agreements (eBSA’s) in an online marketplace. 

CHICAGO, ILLINOIS – MARCH 14, 2022 Airblox has launched at Air Cargo Americas 2022 in Miami, Florida. Airblox is an online marketplace that enables freight forwarders and airlines to trade cargo capacity in the form of standardized electronic block space agreements (eBSA’s).

Block space agreements are purchased by freight forwarders for space on a flight. These BSA’s fall into one of two categories – soft, where the forwarder can cancel without a financial penalty, and hard, where the forwarder is financially responsible for every allocated space whether utilized or not.

Airblox is revolutionizing this process by creating electronic block space agreements, or eBSA’s. An eBSA allows the holder of a block space to make it available to another entity to use. Airblox allows interested parties to bid, buy or block. 

Founder Edip Pektas cited his quantitative trading days as the genesis of the idea.

“While growing a ground handling company, I realized how inefficient the process of trading block spaces is. It took so much time and energy to execute the process of capacity allocation.”

Airblox has built a platform that will be the only place for aviation stakeholders to trade, exchange and block capacity. 

“Airblox is a flexible, agile and tactical tool for market participants to visualize their exposure, expand or contract their capabilities and best of all, another way to manage their risk in real time.”

Through 2022, Airblox’s product roadmap includes an advanced and scalable blockchain infrastructure.