Tagged Avis Budget

Avis Increases Cash Portion of Dollar Thrifty Bid

September 3, 2010

Avis Budget said the offer amounts to a premium of more than 22 percent over the Hertz Global Holdings Inc. offer.

Majors Report Q2 Earnings

By Chris Brown , September 2010

Dollar Thrifty again leads profit performance. Commercial business rebounds; leisure lags.

Hertz Seeks Antitrust Approval for Dollar Thrifty Acquisition

May 14, 2010 in Legislative, Rental Operations

The car rental company said it plans to file this week for a Federal Trade Commission antitrust review of its proposed purchase of Dollar Thrifty Automotive Group Inc. Hertz also made a filing with the Securities and Exchange Commission on Tuesday that outlined its views on the advantages of combining with Dollar Thrifty.

Avis Budget Narrows Loss in Q1

May 5, 2010

Excluding unusual items, first quarter EBITDA was $39 million and pretax loss was $25 million, compared with an EBITDA loss of $3 million and a pretax loss of $63 million in the prior year first quarter.

Avis Budget Proposes Higher Bid for Dollar Thrifty

May 3, 2010

Ronald Nelson, Avis Budget’s chairman and chief executive officer, sends a letter to Dollar Thrifty’s executives and says the company wants to make a “substantially higher offer” than Hertz.

Wall Street Likes Car Rental Stock

April 7, 2010 in Rental Operations

This week's strong performance by Dollar, Avis and Hertz is a positive step as analysts expect 2010 to remain a challenging year for the industry.

Car Rental Rates Expected to Increase This Year

March 31, 2010 in Rental Operations

The industry will likely be affected by the addition of no-show fees, says Advito, a travel-management advisory group.

Avis Budget Group Completes $580 Million Asset-Backed Bond Offering

March 31, 2010

The transaction is the first multi-tranche asset-backed securities offering by a rental-car company since 2003.

Salvage Direct to Sell Vehicles for Avis Budget Group

March 31, 2010 in Remarketing

The car rental company will sell its vehicles using Salvage Direct's auction platform, SalvageDirect.com.

Avis Amends Existing Credit Facility and Completes Offering of Senior Notes

March 17, 2010

The ratings agency Standard and Poor's raised its rating on Avis senior unsecured notes to “B”, citing recent financing activity that reduced the rental car company's secured borrowing.

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