You, me, and fellow economy class passengers book in advance in order to lock in cheaper fares, but are consequently exposed to unexpected circumstances or changes of plan. Currently, passengers that book economy tickets and then cannot fly, or simply decide not to fly (for any reason), have two choices: firstly, let the ticket expire and lose the full amount paid, or, secondly, pay onerous fees i
f they wanted to use the ticket in the future. Applicable fees are, on average, 72% higher than the price of the original ticket in the US, and 150% higher in Europe. In a non-negligible number of cases they are 2x-3x more expensive than the original ticket, forcing the passenger to lose the ticket. The solution currently offered by airlines to passengers that need to change a non-refundable booking is to issue a voucher. This voucher can be used with that particular airline only and within a specified time period. This solution is clearly too restrictive and suboptimal. Theia is here to change that. Theia connects passengers and facilitate the transfer of airline tickets from passengers that no longer will fly to those who want to fly. Theia gives cash back to the original passenger for their ticket, giving them the freedom to use the cash as they please, with no restrictions whatsoever. Passengers who buy pre-owned tickets on the platform always buy them cheaper than the ongoing airfare, as this is a condition for Theia’s operations. We give economy class passengers rebooking privileges that the airline reserves for business class passengers and allow new passengers to save money, always. Experience the 10th Freedom of the Air: passenger freedom, get cash and go spending it as you wish.
