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.
Avis Budget Group posts its best first-quarter adjusted EBITDA since 2015, driven by double-digit growth in revenue per day in the Americas.
While other carsharing firms have exited Philadelphia, Zipcar is “doubling down” on its commitment to the city.
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.
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.
Despite historically low revenues for the fourth quarter, Avis achieved a historically high earnings margin after cutting $500 million in expenses.
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.
The extended furloughs are indefinite.
Brian Choi will assume the role of chief financial officer on August 24.
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.”
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