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| Type | Public (LSE: AVE) |
|---|---|
| Founded | 1986 |
| Headquarters | Bracknell, Berkshire, England |
| Key people | Alun Cathcart (Chairman of the board), Pascal Bazin (CEO) |
| Industry | Car rental |
| Revenue | €1.314 billion (2008)[1] |
| Operating income | ▲ €112.7 million (2008)[1] |
| Profit | ▲ €21.8 million (2008)[1] |
| Employees | 5,970 (2008)[1] |
| Parent | D'Ieteren |
| Website | www.avis-europe.com |
Avis Europe plc (LSE: AVE) 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. Listed on the London Stock Exchange, the company is a former constituent of the FTSE 250 Index.
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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 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 (bar Asia).
Senior management
| role | salary | bonus | total | |
|---|---|---|---|---|
| Pascal Bazin[3] | Chief executive officer | £512,821 | £61,069 | £573,890 |
| Martyn Smith[4] | Finance director | £330,000 | £33,000 | £363,000 |
Operations
The group's Avis-branded operations comprise over 2,900 offices in 109 countries across EMEA and Asia. Of these, franchisees operate by licence in 96 nations, while Avis Europe has directly owned and operated subsidiaries in the remaining thirteen (mostly in Western Europe).[5]
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.[5]
References
- ^ a b c d "Annual Report 2008". Avis Europe. http://avisar2008.production.investis.com/~/media/Files/A/avis-ar-2008/pdfs/avis-ar-full-pdf.ashx. Retrieved 2009-09-19.
- ^ "COMPANY NEWS; Group to Buy Avis Europe". Reuters (The New York Times). 26 August 1989. http://www.nytimes.com/1989/08/26/business/company-news-group-to-buy-avis-europe.html. Retrieved 2009-09-19.
- ^ "Pascal Bazin: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=22927497&ric=AVE.L. Retrieved 2009-09-18.
- ^ "Martyn Smith: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8751729&ric=AVE.L. Retrieved 2009-09-18.
- ^ a b "Company Structure". Avis Europe. http://www.avis-europe.com/content-48. Retrieved 2009-09-19.
External links
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