MARKET DISRUPTION: The airline said the system gave people discounts of up to 55% on their tickets, which could force airlines to continuously lower their prices

Taipei Times
Date: Jan 21, 2019
By: Staff writer, with CNA

Far Eastern Air Transport Corp (FAT, 遠東航空) has voluntarily stopped accepting Airline and Life Networking Tokens (ALLN) — a cryptocurrency — for ticket purchases, due to concerns that doing so could disrupt the market order and lead to a race to the bottom, the Civil Aeronautics Administration (CAA) said on Friday.

FAT told the Central News Agency that it has stopped using the system, but made no public statement.

The ALLN system, developed by FAT’s parent company, Huafu Enterprise Holdings Ltd (樺福集團), offered passengers discounted tickets as low as 55 percent of the original price, the carrier said.

The system, which was introduced in August last year, has the potential to generate tickets below the regulated minimum price for domestic flight tickets, the CAA said.
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