View Single Post
Old 05-23-2020, 06:38 AM
  #5  
AirBear
Gets Weekends Off
 
Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,925
Default Hertz files for Bankruptcy

https://www.cnn.com/2020/05/22/busin...tcy/index.html

They already sold 41,000 cars before auctions and dealers closed up in March, assuming they'll sell a lot more when able it's really going to depress late model used car prices.

Rental car companies buy 10% of new car inventory, this is also going to hurt automakers.

Carl Icahn owns 38% of Hertz and had been buying more shares up until March. Those shares have lost 60% of their value since then. I suspect few pilots will feel sorry for him
AirBear is offline