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Avis Earns $47m in Q1

Avis Earns $47m in Q1

Avis Budget Group posts its best first-quarter adjusted EBITDA since 2015, driven by double-digit growth in revenue per day in the Americas.

May 3, 2021

Zipcar Expands Partnership with the City of Philadelphia
Avis Budget Group Reports Positive EBITDA for Q4
Avis Reports $45m Net Income in Q3

Avis Reports $45m Net Income in Q3

Avis Budget Group announced third quarter net income of $45 million as a result of removing about $1 billion of costs for the quarter and taking advantage of the strong used vehicle market.

October 29, 2020

Avis Continues Furloughs in Ohio Due to Coronavirus
North Steps Down as Avis CFO
Avis Shows Sequential Improvements in Q2

Avis Shows Sequential Improvements in Q2

While revenue was down 78% in April, Avis Budget Group finished June down 59% from the prior year. Off-airport revenues are “close to pre-pandemic levels.”

July 28, 2020

Moody's: Substantial Travel Recovery Before 2023 Unlikely
Avis Forms Safety Coalition with Lysol, Medical Professionals

Avis Forms Safety Coalition with Lysol, Medical Professionals

Along with ABG, the coalition includes RB, which is the maker of Lysol, and a team of medical professionals from leading institutions, including Columbia University, with expertise in public health, COVID-19, and other infectious diseases.

July 13, 2020

Avis CEO Ferraro Talks Pandemic Pivot on CNBC

Avis CEO Ferraro Talks Pandemic Pivot on CNBC

In an interview with CNBC, Avis Budget Group’s CEO Joe Ferraro was asked about how the company transitioned into the coronavirus environment and how the Hertz bankruptcy might affect Avis.

July 10, 2020

Avis Budget Group Appoints Joe Ferraro CEO

Avis Budget Group Appoints Joe Ferraro CEO

After a stint as interim CEO, Ferraro spent five years as president of the Americas division, responsible for the company’s Avis, Budget, Payless, and Zipcar brands in North and South America, including Latin America and the Caribbean.

June 15, 2020

Avis Budget Group Sheds 70% of Workforce

Avis Budget Group Sheds 70% of Workforce

The company has laid off or furloughed 21,000 employees as a result of the coronavirus pandemic. April revenue is trending down 80% from the prior year. Similar trends are expected in May, but the company “expects a gradual recovery thereafter.”

May 3, 2020

NZ Avis, Budget Offer $10 Rentals to Essential Workers
Avis Makes Q1 Predictions, Announces COVID-19 Updates
Avis Appoints Interim Execs as CEO Search Continues

Avis Appoints Interim Execs as CEO Search Continues

Avis Budget Group’s CEO search committee, led by director Lynn Krominga, chair of the corporate governance committee of the board of directors, is conducting a thorough search process to identify a permanent CEO.

December 30, 2019

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