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Avis Budget Group

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.

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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.

Avis Shows Sequential Improvements in Q2

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.”

Avis CEO Ferraro Talks Pandemic Pivot on CNBC

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.

Avis Budget Group Appoints Joe Ferraro CEO

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.