Avis Budget Group to Announce Second Quarter 2020 Results on July 28th
Conference Call to Discuss Results Scheduled for July 29th, 2020 PARSIPPANY, N.J., July 13, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its second quarter 2020 results after the market close on Tuesday, July 28th, 2020, and to host a conference call for institutional investors to discuss these […]
Avis Budget Group Appoints Joe Ferraro Chief Executive Officer
Bernardo Hees Named Executive Chairman PARSIPPANY, N.J., June 15, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today announced that its Board of Directors has appointed Joe Ferraro, who has been serving as interim Chief Executive Officer, as CEO, effective immediately. The Company also announced that Bernardo Hees, who has been serving as […]
Avis Budget Group Announces Pricing of $500 Million of Senior Secured Notes
PARSIPPANY, N.J., May 05, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., priced an offering of $500 million aggregate principal amount of 10.500% senior secured notes due 2025 in a private offering, which represents a $100 million […]
Avis Budget Group Announces Intention to Offer $400 Million of Senior Secured Notes
PARSIPPANY, N.J., May 04, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., intend, subject to market and other customary conditions, to offer $400 million aggregate principal amount of senior secured notes due 2025 in a private offering. […]
Avis Budget Group Announces Leverage Covenant Waiver Under Existing Credit Facility
PARSIPPANY, N.J., April 27, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today announced that the Company has obtained a waiver of the leverage covenant included in its existing senior credit facilities, comprised of a term loan and revolving credit facility, until June 30, 2021. The waiver is included in an amendment to […]
Avis Budget Group Provides Preliminary First Quarter 2020 Financial Results; Update on April Trends, Mitigation Actions and Liquidity
PARSIPPANY, N.J., April 22, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today provided preliminary First Quarter 2020 Financial Results as well as a further business update related to COVID-19 to supplement our earlier press release issued on March 23, 2020. Preliminary First Quarter ResultsJanuary and February started out exceptionally strong with Revenue […]
Avis Budget Group, Inc. Changes to Virtual Meeting Format for the 2020 Annual Meeting of Shareholders
PARSIPPANY, N.J., April 21, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that, due to the public health impact of the coronavirus outbreak (COVID-19) and to prioritize the health and well-being of our employees, shareholders and community, the Company’s 2020 Annual Meeting of Shareholders (the “Meeting”) has been changed […]
AVIS BUDGET GROUP PROVIDES UPDATE RELATED TO CORONAVIRUS
PARSIPPANY, N.J., March 23, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today provided the following business update related to the coronavirus. Joe Ferraro, Interim President and Chief Executive Officer, said, “Consistent with other integral components of the global travel industry, we are seeing significant impacts in our business around the world as […]
Avis Budget Group Enters into New Cooperation Agreement with SRS Investment Management
Board will Ultimately Be Comprised of Nine Directors, Including Three SRS Representatives PARSIPPANY, N.J., Feb. 24, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) today announced that it has entered into a new cooperation agreement with SRS Investment Management, LLC (“SRS”), the Company’s largest shareholder. The terms of the new approximately […]
Avis Budget Group Delivers Record Fourth Quarter Revenue Driven By Overperformance in the Americas
PARSIPPANY, N.J., Feb. 19, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today reported a record fourth quarter and results for the full year ended December 31, 2019, driven by the strong performance in the Americas. We are also providing our outlook for 2020. Fourth Quarter 2019 over Fourth Quarter 2018 Highlights: Revenues increased […]