Latvian airline first to accept 'Bitcoin' payments

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Latvian national airline airBaltic announced Tuesday it will become the first airline in the world to accept payment for tickets in the controversial 'Bitcoin' virtual currency. 

Martin Gauss, airBaltic's chief executive said: “Introducing the Bitcoin payment option is a part of our innovative approach to service.”

airBaltic will accept Bitcoin as payment for tickets on its website, though ticket prices are displayed in euros. When customers pay for their flight, their Bitcoins are converted into euros at the current exchange rate.

However, the Bitcoin payment option is only available when purchasing the cheapest tickets, known as airBaltic Basic class. 

Bitcoin is a software-based payment system introduced in 2009 that operates without a central bank or regulator, which has led to calls from some quarters for it to be brought under some form of control.



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