28th
May
2010
Leading German car rental agency Sixt has unveiled its first quarter results and reports that the financial year has begun brightly.
Widely popular with UK holidaymakers, Sixt made a significant increase in the quarter which has traditionally been the lowest for income generation. Sixt, which is also one of Europe’s foremost mobility service providers, announced that pre-tax earnings had grown by a massive a €42.6 million to final figure of €8 million.
The figure was called encouraging in light of the uncertain economic recovery, as Sixt also managed to match the high service levels of the same period last year in its [...]
posted in Car Rental |
28th
May
2010
Maoist rebels are being blamed for a train crash which has killed at least 65 people in the east of India. The passenger train which was travelling from Calcutta to Mumbai, was derailed after a section of track was removed, according to official reports.
Rail officials say that the incident took place at night, meaning that the train driver was unaware that part of the track was missing. As the train left the track, it collided with an oncoming goods train. The incident happened approximately 90 miles from Calcutta, in an area thought to be controlled by Maoist rebels.
It is expected [...]
posted in Car Rental |
28th
May
2010
The counter offer from Avis Budget Group for Dollar Thrifty faces a difficult road ahead say analysts.
With Avis having launched its due diligence, all sides have now fallen silent. However, the recent economic instability means the offer will be harder to finance, and the falling stock price means an Avis share bid could also present difficulties.
Bill Kavaler, analysts with Oscar Gruss, thinks these factors will force Avis into spending more cash than originally intended. However, Dollar Thrifty has already questioned the ability of Avis to counter in cash the Hertz offer of $1 billion. They have also claimed that substantial [...]
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28th
May
2010
Motorists in the UK are not only risking their safety by driving with under-inflated tyres on their vehicles, but also their bank balance, according to a recent survey. Car tyre manufacturers, Michelin, claim that inadequately inflated tyres are costing the public around £440 million per year in unnecessary fuel bills.
As well as the damage done [...]
posted in Car Rental |
28th
May
2010
International Air Transport Association chief executive, Giovanni Bisignani, has launched a surprise attack on British Airways’ staff, as a walkout by trade union members enters its fifth day. Bisignani described the current labour dispute as unbelievable at a time when the entire airline industry is struggling to pull itself out of a crippling recession.
The trade body leader said that deciding to strike in the current economic climate showed that Unite members were divorced from reality. He added that airline employees must realise that their paycheques were reliant on the performance of the company that they worked for, and that at [...]
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