MENU
SEARCHMENUSEARCH
Brian Choi will assume the role of chief financial officer on August 24.
Read More →
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.”
Read More →
In downgrading Avis Budget's rental car ABS, the ratings service shared a candidly pessimistic outlook for the return of travel demand and the car rental industry as a result of the coronavirus pandemic.
Read More →
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.
Read More →
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.
Read More →
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.
Read More →
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.”
Read More →
Essential workers include medical personnel, public safety workers, and others with government documents.
Read More →
Avis reduced the size of its global fleet beginning in March and continuing in April, and currently estimate that it will end June with over 20% fewer units than the prior year.
Read More →
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.
Read More →