Sixt SE managed -$16.6 million in earnings before taxes in the first quarter of 2021, with business improving sequentially. U.S. is a bright spot while Europe continues to be affected by the lockdown.
Hertz Global Holding’s adjusted EBITDA in the U.S. of $24 million in the first quarter of 2021 is truly a remarkable achievement.
Avis Budget Group posts its best first-quarter adjusted EBITDA since 2015, driven by double-digit growth in revenue per day in the Americas.
Reporting its full-year 2020 Results, Europcar Mobility Group cited limited visibility on when rental car demand will recover; U.S. business a bright spot.
The company says it plans to emerge from Chapter 11 bankruptcy by mid to late summer.
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 company also reported a net loss of $847 million.
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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