Traveling can be a costly endeavor, especially when it comes to airfare. For those who lack immediate cash or access to credit, purchasing airline tickets can feel impossible. Fortunately, a Chicago-based tech startup is transforming the way travelers book flights by offering a layaway-style payment plan.
The company, known as Airfordable, enables consumers to pay for their airline tickets in manageable installments. Users simply need to provide a screenshot of their flight itinerary and relevant travel information. From there, Airfordable devises a payment plan that begins with an initial deposit, followed by subsequent payments leading up to the departure date.
This innovative concept is particularly beneficial for individuals facing cash flow challenges or those who wish to secure a favorable fare without the burden of paying the full amount upfront. While there is a one-time fee of approximately 10-20% of the ticket price, the process does not involve any interest or credit checks.
The inspiration behind Airfordable came from co-founder and CEO, Sarah Thompson, who experienced firsthand the difficulty of affording airfare during her college years. “I wanted to visit my family in Nigeria during breaks from school, but the $1,800 ticket was out of reach,” she shared. “I often found myself stuck at school, and that motivated me to find a way to make travel more accessible for everyone.”
Joined by COO Jake Reynolds and co-founder Michael Osei, Airfordable has since booked over a million miles of flights for its 27,000 users, who utilize the service for various reasons—ranging from students traveling home to families planning significant events like weddings or vacations. “We cater to a wide audience with diverse travel needs,” Thompson noted.
As someone who has the luxury of proximity to family, it’s hard to fathom the challenges faced by those who rely on airfare to reconnect with loved ones. My own parents are contemplating a move after retirement, and the thought of coordinating trips for four people, costing upwards of $2,500 round-trip, is daunting. A service like Airfordable could significantly alleviate that financial burden.
Looking ahead, Airfordable plans to expand its offerings to include hotel bookings and vacation packages with a similar installment payment structure. “Many people live paycheck to paycheck and can’t afford to pay for flights outright,” Thompson said. “Travel should be accessible to everyone, without the need to resort to credit cards.”
This is a commendable initiative, as vacations should be attainable for all, regardless of their financial situation. Kudos to Thompson and her team for addressing a genuine need in the market and assisting countless travelers along the way.
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In summary, Airfordable is revolutionizing the way people approach airfare by providing a flexible payment option that makes travel more accessible. With its innovative model, it addresses the financial hurdles many face when planning trips.