Blow for IATA as NDC investor pulls out
New Distribution Capability (NDC) project has suffered a blow after the venture's ‘Innovation Fund’ investor pulled out. The association confirmed this week that Travel Capitalist Ventures (TCV) has withdrawn from the NCD Innovation Fund (NDCIF) project, citing "deteriorating global economic and market conditions". The NDCIF was aimed at encouraging travel start-ups to engage in the NDC programme and develop new airline technology solutions.
IATA said it is seeking a new investment partner, and that it will "continue to look for opportunities to support early stage companies seeking to support airline distribution."
"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's NDC director. Despite a rocky start, the NDC programme has gathered momentum in recent months.
In February, Sabre and American Airlines started selling extralegroom and premium economy seats using NDC standards - a first for both companies. NDC is a new XML-based concept launched by IATA to improve how airline products are sold via third party channels.