Spanish flag carrier Iberia will let passengers spread the cost of buying their flights for up to a year with a new ‘buy now, pay later’ financing option on all flights up to €10,000.
Iberia is powering its BNPL service through its Iberia Cards system, allowing passengers to split the cost of buying flights into instalments of 3, 6, 9 or 12 months.
Buy now, pay later is one of the fastest-growing trends in retail, and Iberia isn’t the only airline to have caught on to the idea that this type of financing option could also translate to the travel industry.
Last year, Qantas launched its own BNPL option after its financing partner conducted research that found that potential passengers were far more likely to purchase flights if they didn’t have to pay the whole amount upfront.
Iberia says its BNPL service takes less than a minute and is complete in just three steps. At the moment, Iberia is the only Spanish airline offering a BNPL option.
