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Despite historically low revenues for the fourth quarter, Avis achieved a historically high earnings margin after cutting $500 million in expenses.
https://www.autorentalnews.com/10136820/avis-budget-group-reports-positive-ebitda-for-q4
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...
https://www.autorentalnews.com/10129307/avis-reports-45m-net-income-in-q3
The extended furloughs are indefinite.
https://www.autorentalnews.com/10125167/avis-continues-furloughs-in-ohio-due-to-coronavirus
Brian Choi will assume the role of chief financial officer on August 24.
https://www.autorentalnews.com/10123621/north-steps-down-as-avis-cfo
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.”
https://www.autorentalnews.com/10122350/avis-shows-sequential-improvements-in-q2
In downgrading Avis Budget's rental car ABS, the ratings service shared a candidly pessimistic outlook for the return of travel demand and the car rental...
https://www.autorentalnews.com/10121052/moodys-substantial-travel-recovery-before-2023-unlikely
Along with ABG, the coalition includes RB, which is the maker of Lysol, and a team of medical professionals from leading institutions, including Columbia...
https://www.autorentalnews.com/10120952/avis-forms-safety-coalition-with-lysol-medical-professionals
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...
https://www.autorentalnews.com/10120906/avis-ceo-ferraro-talks-pandemic-pivot-on-cnbc
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...
https://www.autorentalnews.com/10118648/avis-budget-group-appoints-joe-ferraro-ceo
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....
https://www.autorentalnews.com/357515/avis-budget-group-sheds-70-of-workforce