Avis Europe
Encyclopedia
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
.
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 before being listed on the LSE once more in 1997. While Avis and GM have sold their stakes in Avis Europe, D'Ieteren continues to hold a controlling 59.6% stake in the firm. 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).
In 2011 it was acquired by Avis Budget Group
.
and Asia. Of these, franchisee
s operate by licence in 99 nations, while Avis Europe has directly owned and operated subsidiaries
in the remaining thirteen (mostly in Western Europe).
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.
Car rental
A car rental or car hire agency is a company that rents automobiles for short periods of time for a fee...
brands of Avis Budget Group
Avis Budget Group
Avis Budget Group, Inc. operates Avis Rent A Car System, LLC , Budget Rent A Car System, Inc. and Budget Truck Rental, LLC...
(Avis Rent a Car System
Avis Rent A Car System
Avis Rent a Car System, LLC is a car rental company headquartered in Parsippany-Troy Hills Township, New Jersey, United States. Avis, Budget Rent a Car and Budget Truck Rental are all units of Avis Budget Group....
and Budget Rent a Car
Budget Rent a Car
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget's operations are headquartered in Parsippany-Troy Hills Township, New Jersey....
) in Europe, the Middle East and Africa
Europe, the Middle East and Africa
Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes...
as well as Asia in the case of Avis. In 2011 it was acquired by Avis Budget Group
Avis Budget Group
Avis Budget Group, Inc. operates Avis Rent A Car System, LLC , Budget Rent A Car System, Inc. and Budget Truck Rental, LLC...
.
History
The company was an operating division of Avis Rent a Car until 1986, when it was spun outSpin out
A spin-out, also known as a spin-off or a starburst, refers to a type of corporate action where a company "splits off" sections of itself as a separate business....
and listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
. The firm was then acquired by a consortium
Consortium
A consortium is an association of two or more individuals, companies, organizations or governments with the objective of participating in a common activity or pooling their resources for achieving a common goal....
of Avis Group, General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
and D'Ieteren
D'Ieteren
D'Ieteren SA is a company, based in Belgium that is engaged in the automobile distribution, short-term car rental, and vehicle glass repair and replacement businesses.- Activities :...
in 1989 before being listed on the LSE once more in 1997. While Avis and GM have sold their stakes in Avis Europe, D'Ieteren continues to hold a controlling 59.6% stake in the firm. In 2003, shortly after Budget was acquired by Avis's then-parent Cendant
Cendant
Cendant Corporation was a New York-based provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, Cendant broke up and spun off or sold its constituent businesses...
, Avis Europe also took over the rights to that brand in its operating regions (except Asia).
In 2011 it was acquired by Avis Budget Group
Avis Budget Group
Avis Budget Group, Inc. operates Avis Rent A Car System, LLC , Budget Rent A Car System, Inc. and Budget Truck Rental, LLC...
.
Senior management
| role | salary | bonus | total | |
|---|---|---|---|---|
| Pascal Bazin | Chief executive officer | £512,821 | £61,069 | £573,890 |
| Martyn Smith | Finance director | £330,000 | £33,000 | £363,000 |
Operations
The group's Avis-branded operations comprise over 2,900 offices in 112 countries across EMEAEurope, the Middle East and Africa
Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes...
and Asia. Of these, franchisee
Franchising
Franchising is the practice of using another firm's successful business model. The word 'franchise' is of anglo-French derivation - from franc- meaning free, and is used both as a noun and as a verb....
s operate by licence in 99 nations, while Avis Europe has directly owned and operated subsidiaries
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
in the remaining thirteen (mostly in Western Europe).
The group has Budget-branded operations at over 900 sites in 66 countries across EMEA (Avis Budget Group
Avis Budget Group
Avis Budget Group, Inc. operates Avis Rent A Car System, LLC , Budget Rent A Car System, Inc. and Budget Truck Rental, LLC...
operates Budget in Asia). All of these are franchised except for those in Austria, Switzerland, France and the United Kingdom.