Hertz Posts Net Loss of $1.7B in 2020
The company says it plans to emerge from Chapter 11 bankruptcy by mid to late summer.
March 1, 2021
The company says it plans to emerge from Chapter 11 bankruptcy by mid to late summer.
March 1, 2021
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.
February 23, 2021
Despite historically low revenues for the fourth quarter, Avis achieved a historically high earnings margin after cutting $500 million in expenses.
February 16, 2021
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
The company also reported a net loss of $847 million.
August 12, 2020
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
Short term, the company will focus on domestic business as travel bans are lifted. Midterm, the company will “rethink its priorities, so as to adapt to a ‘new normal’ given the reinforced digital habits, new safety standards, and new travel patterns.”
May 19, 2020
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
In the third quarter, Hertz grew U.S. income on increased transaction days and a decrease in depreciation, while international revenues, earnings decrease.
November 4, 2019
For the third quarter, Avis Budget Group reported declines in adjusted EBITDA, pretax income, and net income. Performance in Americas beat International.
October 31, 2019
Second quarter revenues featured a 2% increase in rental days.
August 5, 2019
During the second quarter of 2019, Europcar posted a net profit of 1 million euro ($1.1 million) compared to a net profit of 18 million euro ($20 million) in the second quarter of 2018.
July 29, 2019
This represents an increase of 13% when compared to revenue of $3.1 million in the fourth quarter of 2018.
May 13, 2019
Following this Q1 start, the managing board of Sixt confirms its outlook for the entire fiscal year of 2019 and plans investments of around 8 billion euros ($9 billion).
May 9, 2019
Total U.S. rental car revenues increased 7%, compared to the first quarter of 2018.
May 7, 2019