Flight Centre Travel Group has acquired a 22.47% stake in TPConnects Technologies.
The Australia-based travel retailer says the undisclosed investment improves its air content, with TPConnects developing technology based around IATA’s NDC and One Order.
Flight Centre has worked closely with TPConnects since 2019 and describes the deal as an initial minority interest in the Dubai-based technology company.
The company also says the investment supports its strategy of ensuring customers, particularly those in corporate travel, have the widest choice of travel content.
Steve Norris, managing director for EMEA at Flight Centre, says: "As airlines continue to disrupt the way in which they distribute their content, it’s essential for FCTG to be able to offer all relevant air fares to customers, in particular our corporate clients.
"We are excited to have made this strategic investment, which provides tremendous opportunity for our company and our customers, and ensures we are at the forefront of developments that are taking place now.”
Mick Heitzinger, product director, EMEA, for Flight Centre, adds that the investment will enable the group to enhance the customer experience going forward.
Ten months ago, Flight Centre acquired a 25% stake in Upside, a corporate travel startup that rewards business travelers for being flexible with their itineraries.
In January this year, FCM Travel Solutions, which is part of the group, invested in corporate travel startup Shep Travel.