With the Aviation Fuel Smart Contract system, an air carrier is able to transfer refueling information to a supplier and agree on preliminary amounts of jet fuel and pricing. The data are used to assign technical tasks to the fuel tanker driver at the airport, enabling pilots to request necessary volumes of jet fuel directly from operators.

An online application gets sent to the airline’s bank to reserve the necessary funds, then the refuelling process commences. Follow-up financial reports detailing the refueling application are then sent to commercial services departments of both the fuel supplier and air carrier.

Smart contracts significantly increase the speed of financial transactions and reduce labor costs for both airlines and suppliers. They enable air carriers to carry out immediate payment processing directly at the time of refueling without prepaid charges or bank guarantees, mitigating financial risks for all parties.

A presentation of the new technology took place in August 2018 at Tolmachevo international airport (Novosibirsk, Russia). Gazpromneft-Aero successfully refueled a scheduled S7 flight using a smart contract with blockchain technology, allowing the transaction to be accepted and carried out within minutes after refueling.