Avis speeds to its best annual performance in 75-year history in 2021
Avis Budget Group, Inc. (Avis) net revenue increased 72.0% in 2021 compared to the year prior, indicating the company’s robust recovery following crushed demand for rental cars during the COVID-19 (coronavirus) pandemic. A return to travel in 2021 shot the cost of rental cars up, leading Avis to record its highest net income on record as well. Company growth was contested by the emergence of the Omicron variant in late 2021, although redistribution of the company’s fleet to regions where travel remained robust sustained demand.
COVID|Labor|New Activity|ESG|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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