News
IATA: NDC investor pulls out
February 26th 2016
The International Air Transport Association (IATA) this week announced that Travel Capitalist Ventures (TCV) is withdrawing as an investor in the New Distribution Capability Innovation Fund (NDCIF), citing “severely deteriorating global economic and market conditions affecting early stage investments”. The process to identify a new investment partner is underway. No NDCIF investments have been made to date. Read More » The NDCIF was aimed at encouraging travel start-ups to engage in the NDC programme and develop new airline technology solutions using XML-based concepts.
“We remain strongly committed to the NDCIF as a vehicle for promoting innovation around the NDC standard and we are seeking a new investment partner to support its important mission,” said Yanik Hoyles, IATA Director, NDC Program.
“We remain steadfast supporters of IATA and the NDC Standard, generally speaking and for our own investments, and look forward to even greater adoption by travel companies of all sizes,” said Abrar Ahmad, a principal of TCV.
In February, Sabre and American Airlines started selling extra-legroom and premium economy seats using NDC standards – a first for both companies.
