Airblox introduces new feature for BSA Trading
The online marketplace operated by Airblox allows freight forwarders and airlines to exchange air cargo capacity in the form of standardised eBSAs
Airblox, a pioneer in aviation fintech, has provided a live feed of worldwide scheduled air freight aircraft capacity to assist customers of its electronic Block Space Agreement (eBSA) booking service.
The online marketplace operated by Airblox allows freight forwarders and airlines to exchange air cargo capacity in the form of standardised eBSAs.
A block space agreement (BSA) is the purchase of an agreed-upon capacity or space on an airline or carrier's flight. The carrier might be a separate plane or a part of another plane (ex: the belly of an aircraft). Under medium and long-term contracts, the agreement product is based on a set unit load device (ULD) position(s) on a given aircraft and guaranteed for a defined length of time.
The new live stream will let customers see incoming capacity and make educated business choices by lane by bidding on and obtaining eBSAs at competitive costs.
Airblox is pioneering the digitalization of Block Space Agreements (BSAs), in which corporations acquire cargo space on a flight ahead of time, in order to make the BSA transferable.
"By digitizing capacity in a centralized exchange in a standardized format, the market is assigning a certain value to it that can be traded," Edip Pektas, founder of Airblox told delegates at today's CNS Partnership Conference in Phoenix, Arizona, USA.
"We believe that the future of air cargo capacity is as a tradable concept, and by launching this new feed, we are a step closer to giving full transparency of the scheduled global air freight capacity to our users so that they can make informed decisions".
Airblox is the first online platform that allows air cargo stakeholders to sell, swap, and block cargo capacity on a secure blockchain architecture.