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For the quarter, Avis recorded more than $1 billion in adjusted EBITDA, its best adjusted EBITDA in company history. Stock surges on Avis's electrification intent.
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As Avis Budget Group’s second quarter adjusted EBITDA came in at $624 million, the best in the company's 75-year history.
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The Georgia Supreme Court ruled that the licensee could not be held liable for injuries to third parties caused by the driver of a stolen rental car — who was also an Avis employee.
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Avis Budget Group posts its best first-quarter adjusted EBITDA since 2015, driven by double-digit growth in revenue per day in the Americas.
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While other carsharing firms have exited Philadelphia, Zipcar is “doubling down” on its commitment to the city.
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A contractor that shuttled cars between Seattle-Tacoma International Airport and nearby Avis Budget locations is not considered a transportation employer under the city of SeaTac’s $15 minimum wage law.
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During its quarterly investor’s call, Avis Budget Group showed how it’s meeting demand in a dramatically disrupted environment, with insights into sourcing new local market business, the semiconductor chip shortage, and the return of corporate travel.
Read More →Despite historically low revenues for the fourth quarter, Avis achieved a historically high earnings margin after cutting $500 million in expenses.
Read More →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.
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The extended furloughs are indefinite.
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