Knighthead Capital Management and Certares Opportunities have committed to invest up to $4.2 billion to purchase up to 100 per cent of the common stock of the fallen car rental giant.
As car rental giant Hertz is honoured with a global title at the World Travel Awards, Breaking Travel News here finds out more from president, international, Angela Brav
Hertz has confirmed chief financial officer Jamere Jackson has resigned to pursue a new opportunity. He will remain with Hertz until September 11th to assist in the transition of his responsibilities.
The car rental giant is seeking chapter 11 protection as it seeks to reorganise its business in the wake of the coronavirus pandemic. Hertz said the impact of Covid-19 on travel demand had been sudden and dramatic, causing an abrupt decline in the revenue.
Hertz has named Paul Stone as chief executive, effective immediately. The decision comes after the company narrowly staved off bankruptcy earlier this month, striking a deal with lenders after missing debt payments.
Hertz has added the Mini Cooper, the Mini One and the Mini Countryman to its British Collection. To launch the expansion, Hertz has asked the vehicle wrapping company Yannimize to “dress up” some of its Mini cars in vinyl, featuring three eye-catching designs.
Hertz Europe has expanded its monthly car subscription service My Hertz Weekend, which is now available in France, Germany, Italy, Spain and the United Kingdom.
Hertz Europe has announced that customers of Hertz, Dollar and Thrifty can now rent a car using a valid debit card in a host of countries across Europe. Recent Mastercard research shows that people are increasingly using their debit card.
Hertz has unveiled My Hertz Weekend, a flexible new monthly car subscription service which gives customers access to a car every weekend. The new service, starting in Italy, allows Hertz customers to choose between three sizes of car – small, medium or large – knowing that they can use a vehicle in the selected category every weekend of the month.
Hertz Europe has unveiled Kollektion 7 - Made in Germany, a new collection of seven prestige vehicles celebrating luxury German marques and engineering expertise. Launching at Frankfurt Airport, the new collection includes prestige vehicles from top German brands: BMW, Mercedes Benz and Porsche.
Hertz Europe has unveiled the latest addition to its Selezione Italia (Italian Collection) fleet with the arrival of a new rental exclusive, the Alfa Romeo Giulia 2.9T V6 Quadrifoglio.