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Avis Budget Group News

Avis Budget Group acquires Maggiore Group in Italy

Avis Budget Group acquires Maggiore Group in Italy

7 April 2015 Car Rental News

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 closes strong year with fourth quarter growth

19 February 2015 Car Rental News

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.

Avis Budget Group shuffles leadership in United States

Avis Budget Group shuffles leadership in United States

12 February 2015 Car Rental News

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 reclaims trademarks in Scandinavia

11 February 2015 Car Rental News

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

Barloworld to take Budget brand into southern Africa

10 February 2015 Car Rental News

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 outlines expansion plans following bond offering

2 February 2015 Car Rental News

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 celebrates Bahamas anniversary

28 January 2015 Car Rental News

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

Avis argues top talent could be lured by right vehicle

15 January 2015 Car Rental News

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.

Maserati Ghibli joins Avis luxury fleet for 2015

Maserati Ghibli joins Avis luxury fleet for 2015

7 January 2015 Car Rental News

Avis Car Rental has announced the addition of the Ghibli, Maserati’s newest creation, to its United States rental fleet, now available at select Avis locations. The 2015 Maserati Ghibli is an extraordinary sports sedan featuring a 3.0-liter, twin-turbocharged V6, an engine designed to achieve even lower fuel consumption and emissions while delivering stunning performance. The result is outstanding versatility in terms of use, combined with extremely impressive torque and 345 horsepower.