The Complainant operates the Nanaimo Airport, using the IATA code YCD. The Registrant acquired the Domain Name at auction, but allegedly offered to sell it to the Complainant for no less than $10,000.00, and allegedly had not yet executed the business "Your Custom Designs/Decals". The Registrant never heard of the IATA code YCD, and never intended to sell the Domain to the Complainant.
The Panel held that the Registrant had no legitimate interest in the Domain Name by investing in the Domain/ using it for a "personal venture". Many 3-letter acronym trademarks exist, and the Registrant's evidence was weak.
The Panel held that the Domain Name was registered in bad faith, because the evidence showed that the website carried depictions of an airliner taking off, and included the words Arrivals and Departures.
You can read the decision here.