Hertz Global Holdings Inc. (HTZ) and airberlin have teamed up to present their customers with exclusive offers. This collaboration is expected to help both the companies in increasing their customer base. The new two-year partnership agreement symbolizes the strong relationship between the two companies, running successfully for the past ten years with the European airline’s frequent flier program topbonus.
Following the agreement, the fliers of airberlin will get a discount of 5% to 20% on Hertz vehicles for pickups till Dec 31 of this year on bookings made before Jul 30. Rental discounts of 5%, 10% and 20% are available at Hertz locations in Germany (airports), Spain, Austria, Italy, France, Switzerland, Benelux and the UK. Discounts will depend on the selection of car and rental duration.
On the other hand, airberlin will give out coupons worth €10 per person per flight to customers who rent a car from the website, www.hertz.de/airberlin. The vouchers can be redeemed while booking the next airberlin flight between Jul 1, 2014 and Aug 31, 2014 for travel dates within Oct 1, 2014 to Mar 31, 2015.
We believe that the deal positions both companies in a win-win situation with potential for expansion of their customer base thereby boosting top-line growth.
Hertz operates a car rental business under Hertz, Dollar, Thrifty, and Firefly brands in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the number one airport car rental brand in the U.S. and operates at 130 major airports in Europe.
However, the company currently carries a Zacks Rank #5 (Strong Sell) due to accounting mishaps that led it to postpone its first-quarter fiscal 2014 earnings announcement and related 10-Q filing. The earnings release scheduled for Jun 9 were delayed due to the identification of certain errors in its financial results for 2011 and the need to restate the same as well as make relevant corrections in its 2012 and 2013 statements.
Other Stocks to Consider
Some better-ranked stocks in the same industry include Avis Budget Group Inc. (CAR) and ExamWorks Group Inc. (EXAM) sporting a Zacks Rank #1 (Strong Buy) and JTH Holding Inc. (TAX) holding a Zacks Rank #2 (Buy).
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