Press Releases

Company Becomes First Car Rental Provider to Offer Personalized Reservations Using TripIt's Open Technology Platform...

Transaction Re-Unites Avis Budget Group With Its Licensee for Europe, the Middle East, Africa and Asia...

PARSIPPANY, N.J., Sept. 30, 2011 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (Nasdaq:CAR) (the "Company") today announced the appointment of Alun Cathcart to its Board of Directors effective October 3, 2011. Mr. Cathcart fills a newly created seat and will serve for a term scheduled to end at the...

PARSIPPANY, N.J., Sept. 30, 2011 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (Nasdaq:CAR) announced today that it plans to create three new operating regions effective October 3, 2011, when the acquisition of Avis Europe plc (LSE:AVE) is expected to be completed....

PARSIPPANY, N.J., Sept. 21, 2011 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (Nasdaq: CAR - News ) (the "Company") announced today that its wholly-owned subsidiary, AE Escrow Corporation, has priced an offering of $250 million aggregate principal amount of 9.75% senior notes due 2020....

PARSIPPANY, N.J., Sept. 13, 2011 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (Nasdaq: CAR ) has received CEO Cancer Gold Standard ™ accreditation, in recognition of the Company's extraordinary commitment to the health of their employees and families....

• Revenue expected to increase 7-8% year-over-year, to $1.6 billion.
• Adjusted EBITDA expected to increase more than 20%, to $265-275 million, excluding certain items.
• Pretax income expected to increase approximately 30%, to $200-210 million, excluding certain items.

Transaction Will Enable the Company to Replace Vehicle-Backed Debt Maturing in 2012 at Substantially Lower Rates...