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 […]
Avis Budget Group Appoints Bernardo Hees chairman of the Board of Directors
PARSIPPANY, N.J., Feb. 10, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) today announced that Bernardo Hees has been appointed to the Company’s Board of Directors (the “Board”) and named Independent Chairman of the Board and Chair of the Board’s Executive Committee, effective immediately. Over the last 15 years, Mr. Hees […]
Avis Budget Group Named One of Canada’s Best Employers
Ranking recognizes employee satisfaction levels and likelihood to recommend their place of work PARSIPPANY, N.J., Jan. 29, 2020 (GLOBE NEWSWIRE) — Avis Budget Group has been named to the Forbes list of Canada’s Best Employers 2020. Developed in collaboration with analytics firm Statista, the 2020 ranking highlights 300 companies with operations in Canada. Avis Budget […]
Avis Budget Group Adopts Short-Term Shareholder Rights Plan to Protect the Company and its Shareholders
SRS Investment Management Refuses to Renew Cooperation Agreement on Acceptable Terms PARSIPPANY, N.J., Jan. 28, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today announced that a committee (the “Committee”) of its Board of Directors that was formed to manage the Board’s engagement with SRS Investment Management (“SRS”) has unanimously approved the adoption […]
Avis Budget Group and Fiat Chrysler Automobiles Sign New Connected Car Agreement, Giving a More Streamlined, Self-Serve and On-Demand Rental Experience in Europe
Customers of Avis Budget Group renting FCA vehicles in Europe will soon find it easier to pick up and return their vehicles, allowing them to manage their entire rental experience digitally and enabling lock/unlock technology. More than 22,000 connected Fiat, Jeep, Alfa Romeo, Lancia cars and Fiat Professional LCV’s are projected to be added to […]