Avis Budget Group News
Avis Budget Group strikes deal with Iberia
Iberia has announced a new partnership agreement with Avis Budget Group, which has become the exclusive car rental partner of the airline’s loyalty programme, Iberia Plus. The partnership launch campaign, ‘We Travel Together’, highlights the opportunity for Iberia Plus members to earn Avios for every rental booked.
Iberia Plus signs exclusive deal with Avis Budget Group
Iberia has announced a new partnership agreement with Avis Budget Group, which has become the exclusive car rental partner of the airline’s loyalty programme, Iberia Plus. The partnership launch campaign, We Travel Together, highlights the opportunity for Iberia Plus members to earn Avios for every rental booked.
Avis Budget updates loyalty program
Avis Budget Group’s award-winning program for travel professionals has a new name and new look. The Company today announced that Unlimited Budget is now officially Unlimited Rewards.
Avis Budget Group acquires Maggiore Group in Italy
Avis Budget Group has agreed to acquire Maggiore Group, Italy’s fourth-largest vehicle rental business. The net purchase price will be approximately $170 million, and the transaction is scheduled to close in second quarter 2015, subject to customary closing conditions.
Avis Budget Group closes strong year with fourth quarter growth
Avis Budget Group has reported revenue of $1.9 billion for the fourth quarter, a two per cent increase compared with the prior-year fourth quarter. Adjusted EBITDA increased 13 per cent to $129 million. The company reported net income of $25 million for the period, or $0.23 per share, an increase of 53 per cent, excluding certain items, and GAAP net income of $23 million, or $0.21 per share.
Wyshner to host J.P. Morgan High Yield Conference
Avis Budget Group, a leading provider of vehicle rental services, today announced that David Wyshner, senior executive vice president and chief financial officer, will present at the upcoming J.P. Morgan High Yield Conference. The event will take place on February 24th, 2015 at 09:00 Eastern time.
Avis Budget Group shuffles leadership in United States
Avis Budget Group has announced the promotion of two senior executives: Gerard Insall has been named executive vice president and chief information officer, and Ned Linnen has been appointed executive vice president and chief human resources officer. The two were previously senior vice presidents and chief officers of their respective areas.
Avis Budget Group reclaims trademarks in Scandinavia
Avis Budget Group has said it has completed its previously announced acquisition of its licensee for the Avis and Budget brands in Norway, Sweden and Denmark. The licensee acquired operates both the Avis and Budget brands at major locations throughout the region including Oslo, Stockholm, Copenhagen and Sweden’s Arlanda and Goteberg airports.
Barloworld to take Budget brand into southern Africa
Avis Budget Group has announced it has signed an agreement with Barloworld, which operates the Avis Car Rental brand in southern Africa, to also operate the Budget Car Rental brand there, effective March 1st, 2015. The agreement offers both companies an opportunity to leverage Barloworld’s extensive knowledge of the car rental market to grow and develop the Budget brand across southern Africa.
Avis Budget Group outlines expansion plans following bond offering
Avis Budget Group has announced that its Avis Budget Rental Car Funding subsidiary has completed an offering of $650 million of five-year, fixed-rate asset-backed bonds with a weighted average interest rate of approximately 2.7 per cent. The proceeds of the offering are expected to be used primarily to refinance maturing vehicle-backed debt, which has an average interest rate of approximately 3.6 per cent in 2015, and to support growth of our business.
Avis Car Rental celebrates Bahamas anniversary
Avis Car Rental has announced the celebration of more than 50 years in the car rental business in the Bahamas. J.V. ‘Skip’ Roberts opened ‘Skip’s U Drive It’ in 1938, which operated under various names, until signing officially with Avis in 1961.
Avis argues top talent could be lured by right vehicle
According to new research from Avis Car Rental UK the key to attracting talent could lie in the type of mobility package offered as part of a contract. Some 39 per cent of potential job seekers reported that the type of company car they are offered significantly influences their decision to join a small business.