MENU
SEARCHEuropcar Mobility Group is planning mid- and long-term subscription services for companies and businesses. CEO Caroline Parot: “We are back in the game.”
Europcar is “actively preparing for the summer and the perspective of a progressive recovery of domestic and international travel.”
Photo courtesy of Europcar Mobility Group.
Europcar Mobility Group announced on Feb. 26 the finalization of its balance sheet restructuring, which includes €250M in new money via a capital increase and €225M in new fleet financing facilities, which has reduced corporate debt from €2.010m to €910m.
The restructuring is part of the completion of the final steps of the financial safeguard plan approved by the Paris Commercial Court on February 3rd, 2021.
According to a company statement, the restructuring will enable the Group to accelerate the implementation of “Connect,” the company’s strategic roadmap, while it prepares for the recovery of domestic and international travel.
“Today, it is with great ambition that we are opening a new chapter in the history of Europcar Mobility Group: with a significantly reduced corporate debt, the injection of new money combined with new fleet financing facilities, as well as the support of our new shareholders, we are ‘back in the game,’” said Europcar Mobility Group CEO Caroline Parot in the statement.
Parot said Europcar is “actively preparing for the summer and the perspective of a progressive recovery of domestic and international travel.”
Europcar Mobility Group is now comprised of these investment groups and percentage of capital.
Chart courtesy of Europcar Mobility Group.
Parot outlined new and augmented initiatives, including the pending announcement of mid- and long-term subscription plans for companies and businesses; 100% “digital proximity service” in urban environments, reinforcement of its contactless, direct access to vehicles in airports and railway stations, and consolidation of international partnerships.
The company’s new form of governance also entered into force, including a new board of directors that met for the first time on Feb. 26. The board of directors decided to separate the duties of the chairman of the board of directors and CEO and to appoint Alexandre de Juniac as Chairman of the board of directors and Caroline Parot as Chief Executive Officer.
The board of directors is comprised of:
Alexandre de Juniac, independent member
Caroline Parot
Virginie Fauvel, independent member
Martine Gerow, independent member
Carl A. Leaver
Simon Franks
Adèle Mofiro-Mata, employee representatives’ member
The shift from branch-based software to connected operations is turning rental technology into strategic infrastructure.
Read More →
The shift from branch-based software to connected operations is turning rental technology into strategic infrastructure.
Read More →
The global franchise operation reaches a first in its rental fleet portfolio with new service in Uzbekistan.
Read More →
West Coast disasters pose unique challenges and liabilities for rental fleet operators, who are advised to take steps tailored to their specific situations.
Read More →
Angry car renters are storming social media, the mainstream media, and online ratings platforms to complain about charges they claim are either unfounded or excessive.
Read More →
A Carwiz partner in Puerto Rico is taking on the Panama franchise with operations in the nation's largest airport.
Read More →
The integrated business model combines each operator’s local expertise with international standards to boost sales.
Read More →
The study looks at customer analytics to size up performance in car rentals, rideshare, airlines, lodging, and OTAs.
Read More →
Revcuity, an outgrowth of Frontline Performance Group, aims to help clients capture more revenue moments with face-to-face customers, including in the car rental space.
Read More →
Martin Romjue has been editing and reporting for ARN since 2023 and fully transitioned to the role of chairman of the International Car Rental Show in 2026.
Read More →
