Car rental major Avis Budget has reported a 37 per cent year-over-year drop in revenue to US$1.36 billion in Q4, with domestic revenue (in the Americas region) down 33 per cent year over year to US$1.03 billion, while international revenue fell 48 per cent to US$326 million.

The firm said leisure off-airport rentals (including customers seeking to travel with minimal Covid risk) was one bright spot.

 

New corporate customer sign-ups and client retention were strong, but they weren't providing many bookings, the firm said.