Avis Budget Group’s program has helped generate more than $275 million in annual cost savings and other benefits since the program was launched in 2007, the company reports.
Avis Budget Group’s revenue increases 31% on higher rental volume and stronger-than-expected residual values, with an overall net loss on Avis Europe acquisition costs.
Reporting preliminary results, Avis Budget Group expects a 30% increase in revenue in the first quarter compared to the first quarter 2011, and full-year 2012 revenue to be $7.3 billion to $7.6 billion, a 24% to 29% increase compared to 2011.
Through this agreement, ADAC will promote Avis products, services and special offers to nearly 18 million club members in Germany, while Avis will provide ADAC members with offers on a wide range of late-model cars, trucks and vans from a variety of manufacturers.
Company reports net losses for fourth quarter and full-year 2011 on costs related to its purchase of Avis Europe, as well as a decline in pricing in North America.
Members of Etihad Guest can earn triple air miles on all Avis locations worldwide until March 14.
Avis’ growing U.K. network now includes 29 airport locations, and 306 town and city locations.
In 2011, compared to prior-year results, the program saw significant cost reductions and revenue enhancements through enhancing operational efficiency, driving incremental revenue, reducing fleet depreciation and fleet maintenance costs, and improving the Avis and Budget customer experience.
Hannah Thomson, HR director for the Avis UK office, spoke on the Avis Europe acquisition and market growth in her region.
Transaction provides incremental liquidity for funding its European fleet.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
