Some U.S. Car Rental Companies Seek Loan Package
Some U.S. car rental companies are requesting for a five-year, $1.5 billion loan guarantee package similar to what the airlines received after the Sept. 11 attacks, according to the New York Times. The plan is promoted by ANC Rental Corp., the parent of National and Alamo, and is supported by Budget Rent A Car and Dollar Rent A Car Systems, which includes Thrifty Car Rental, the newpaper said. But the plan is opposed by Hertz Corp., Avis Rent-A-Car Systems, and Enterprise Rent-A-Car, the newspaper said. While car rental traffic has shown improvement in the last three weeks, business remains 25-35 percent down, according to the newspaper.