Hertz has improved upon its financial results from last year by cutting costs, so that they re better aligned with demand.
Over the past few months, Hertz s business has also improved markedly, as more Americans get vaccinated, making them more comfortable with travel, at least within the United States. This quarter we realized the first effects of the leisure travel rebound and capitalized on strong demand-driven pricing in destination markets that exceeded 2019 levels, said Paul Stone, Hertz Global s president and CEO, in a statement. We re continuing to see improved demand and are optimistic about a sustained recovery.
With that optimism, Hertz is working aggressively to replenish its fleet, despite the constraints of the global semiconductor shortage and its impact on the automotive supply chain, Stone said.
Hertz Global continues to wind its way through Chapter 11 bankruptcy and it s making significant headway, said Paul Stone, Hertz Global s president and CEO, in a statement.
As part of the reorganization process, the company has announced it will sell its Donlen fleet leasing and management division. It expects the deal to close this month, Stone said.
Hertz Global s goal is to emerge from Chapter 11 by mid- to late summer, he said.
While the company faced a tough year, it has seen a significant improvement since the spring.
In December, the rental car company s global revenue nearly doubled over where it stood in April, when it felt the most pain from the pandemic.