Avis Europe

Last updated

Avis Europe plc
Company type Private company
Industry Car rental
Founded1986
Headquarters Bracknell, Berkshire, England
Key people
Alun Cathcart (Chairman), Pascal Bazin (CEO)
Revenue €1.521 billion (2010) [1]
€108.2 million (2010) [1]
€28.8 million (2010) [1]
Number of employees
5,163 (2010) [1]
Parent Avis Budget Group
Website www.avis-europe.com

Avis Europe plc is a United Kingdom-based company which holds the licence to operate the two main vehicle rental brands of Avis Budget Group (Avis Rent a Car System and Budget Rent a Car) in Europe, the Middle East and Africa as well as Asia in the case of Avis. In 2011 it was acquired by Avis Budget Group.

Contents

History

The company was an operating division of Avis Rent a Car until 1986, when it was spun out and listed on the London Stock Exchange. The firm was then acquired by a consortium of Avis Group, General Motors and D'Ieteren in 1989 [2] before being listed on the LSE once more in 1997. While Avis and GM sold their stakes in Avis Europe, D'Ieteren continued to hold a controlling 59.6% stake in the firm. [3]

In 2003, shortly after Budget was acquired by Avis's then-parent Cendant, Avis Europe also took over the rights to that brand in its operating regions (except Asia).[ citation needed ]

In October 2011, Avis Europe was re-acquired by the brand's current parent company, Avis Budget Group, for US$1 billion. [4]

Management

RoleSalaryBonusTotal
Martyn Smith [5] Finance director£330,000£33,000£363,000

Operations

The group's Avis-branded operations comprise over 2,900 offices in 112 countries across EMEA and Asia. Of these, franchisees operate by licence in 99 nations, while Avis Europe has directly owned and operated subsidiaries in the remaining thirteen (mostly in Western Europe). [6]

The group has Budget-branded operations at over 900 sites in 66 countries across EMEA (Avis Budget Group operates Budget in Asia). All of these are franchised except for those in Austria, Switzerland, France and the United Kingdom. [6]

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References

  1. 1 2 3 4 "Annual Report 2010" (PDF). Avis Europe. Retrieved 23 April 2011.[ permanent dead link ]
  2. ↑ "COMPANY NEWS; Group to Buy Avis Europe". The New York Times. Reuters. 26 August 1989. Retrieved 19 September 2009.
  3. ↑ "Growing popularity of luxury car rentals". Khaleej Times. Retrieved 5 May 2024.
  4. ↑ Avis Budget buys Avis Europe for $1 billion AP, 3 October 2011
  5. ↑ "Martyn Smith: Executive Profile & Biography". BusinessWeek. McGraw-Hill . Retrieved 18 September 2009.[ dead link ]
  6. 1 2 "Company Structure". Avis Europe. Archived from the original on 26 December 2010. Retrieved 9 April 2011.
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