CAR news

Avis Budget reported third-quarter revenue of $3.4 billion and net income of $199 million. The company announced it repaid $350 million in debt ahead of schedule and received $650 million in cash from a legal settlement.

Avis Budget Rental Car Funding issued a new series of asset-backed notes, maturing in 2026 and carrying interest rates between 5.69% and 9.598%.

Avis Budget Group reported second quarter 2026 earnings in line with expectations driven by higher utilization and improved fleet costs. The company also completed the refinance of its revolving credit facilities in June to extend the maturity profile.

Avis Budget Group is adding new revolving facilities maturing in 2028 and refinancing existing debt into a 2031 facility. Extending debt maturities typically enhances the company's financial flexibility.

Avis Budget Car Rental and Avis Budget Finance issued $300 million in additional 8.000% Senior Notes due 2031 under an existing indenture dated November 22, 2023. The additional notes consolidate with the previously issued $500 million initial notes and are secured by company assets.

Avis Budget Group announced the promotion of Tina Goldenberg to Vice President and Chief Accounting Officer effective June 15, 2026, with an annual salary of $270,000 and eligibility for performance incentives. The appointment reflects the company's leadership structure adjustments in its accounting…