An average of 80% of fleets and the mobility community are back at work full time and 90% believe their company will survive through the pandemic, although they face major income loss. Many are unsure when business would operate at “normal” levels.
As the travel sector faces ongoing acute pressure, the investment of about $111 million will help CarTrawler during the recovery from the coronavirus pandemic.
The webinar will convene industry experts to discuss the current recovery of car rental in key global markets.
The company reports an over 200% rise in enquiries from rental companies in North America and Europe.
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.”
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.”
The layoffs affect workers in Missouri with the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands, as well as Enterprise Fleet Management.
Maven’s assets will be transferred to GM’s Global Innovation organization, which will use them to develop “new fleet services” and “mobility solutions.”
Hertz expects to incur an aggregate cost of approximately $30 million relating to these workforce reductions.
Last Thursday, the SBA announced it had stooped accepting new applications, though this Tuesday the Senate approved a measure that would revive the program geared to keep small businesses afloat.
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