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 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