AMERICAN AIRLINES GROUP INC.

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American Airlines, travel platform Winding Tree announce blockchain partnership

11/16/2021 | 10:08am EDT
FILE PHOTO: An American Airlines Airbus A321 plane takes off from Los Angeles International airport

NEW YORK (Reuters) - American Airlines and Swiss travel platform Winding Tree said on Tuesday they have formed a partnership that will enable corporate buyers to access the U.S. airline's data on flights directly, without the need for intermediaries.

Winding Tree is an Ethereum-based decentralized travel marketplace launched in 2017 that says it aims to make travel cheaper for consumers and more profitable for suppliers.

Travel agents and corporate travel bookers currently get their data on flights and rooms from global distribution systems (GDS) such as Amadeus and Sabre, which employ real-time inventory technology.

Winding Tree's platform will allow companies like airlines and hotel operators to publish available inventory directly to those customers.

"We're always looking for innovative ways to give our customers access to American's content in the way that's most convenient for them," said Neil Geurin, managing director for digital and distribution at American.

Through the partnership, Winding Tree will provide a framework for American's leisure bookings program with corporate buyers. The program will be able to negotiate unique offers directly with American Airlines

"While marketplace connectivity is generic, Ethereum blockchain ensures that each relationship is unique to the private agreement between seller and buyer which enables personalized content pricing between the two parties," said Pedro Anderson, chief operating officer and co-founder of Winding Tree.

Alongside a growing list of partners, American Airlines joins Air Canada in leveraging Winding Tree's decentralized marketplace to deal more directly with buyers. 

(Reporting by Gertrude Chavez-Dreyfuss; Editing by Alden Bentley and Dan Grebler)

By Gertrude Chavez-Dreyfuss


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -1.62% 20.65 Delayed Quote.-0.43%
AIR FRANCE-KLM 1.06% 4.296 Real-time Quote.9.82%
AMERICAN AIRLINES GROUP INC. -4.90% 15.915 Delayed Quote.-6.74%
DEUTSCHE LUFTHANSA AG 0.72% 6.852 Delayed Quote.10.08%
ETHEREUM (ETH/BTC) -0.12% 0.0666 End-of-day quote.-15.59%
ETHEREUM (ETH/EUR) 4.42% 1907.39 End-of-day quote.-42.49%
ETHEREUM (ETH/USD) 5.81% 2022.84 End-of-day quote.-46.30%
GDS HOLDINGS LIMITED -12.19% 27.3 Delayed Quote.-34.08%
SABRE CORPORATION -0.78% 6.97 Delayed Quote.-17.93%
TREE HOLDINGS LIMITED 0.00% 0.82 Delayed Quote.-5.75%
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Financials (USD)
Sales 2022 46 407 M - -
Net income 2022 -1 312 M - -
Net Debt 2022 30 534 M - -
P/E ratio 2022 -8,59x
Yield 2022 -
Capitalization 10 879 M 10 879 M -
EV / Sales 2022 0,89x
EV / Sales 2023 0,81x
Nbr of Employees 127 000
Free-Float 99,0%
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 16,75 $
Average target price 19,58 $
Spread / Average Target 16,9%
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Managers and Directors
Robert D. Isom Chief Executive Officer & Director
Derek J. Kerr Executive VP, Chief Financial & Accounting Officer
William Douglas Parker Chairman
Maya Leibman Chief Information Officer & Executive VP
David G. Seymour Chief Operating Officer & Senior Vice President
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