Avis Budget Group, Inc. (CAR) and SriLankan Airlines have teamed up to present their customers with exclusive offers. This collaboration is expected to help both the companies in increasing their customer base.
As per the agreement, the frequent flyers of SriLankan Airlines who are registered under its FlySmiLes program can now earn and redeem miles at Avis car rentals. Apart from this, the members can directly locate and book Avis car rental’s products and services at FlySmiLes website – http://www.flysmiles.com/.
The national carrier of Sri Lanka, SriLankan Airlines is one of the world’s leading Airline operators in terms of safety, services, punctuality, comfort and reliability. Over the years, the Airline has been honored with various industry awards. Currently, the carrier covers a network of 60 destinations in 33 countries.
We believe that the deal is a win-win situation for both the companies, which provides them with an opportunity to expand their customer base thereby boosting top-line growth.
Avis Budget is one of the world’s leading vehicle rental companies conducting its operations in approximately 175 countries. Moreover, a formidable network of more than 10,000 rental locations and 350,000 vehicles, enable the company to strengthen its well-established position in a highly competitive vehicle rental industry.
This Zacks Rank #1 (Strong Buy) company, follows a core global strategy of collaborating with leading travel brands to expand its customer reach while creating additional demand. In March this year, Avis successfully completed the acquisition of the world’s leading car sharing network company, Zipcar Inc. for a total value of $500 million.
We believe that the strategic move will allow the company to expand its offerings from car rental to car sharing and compete with rivals such as United Rentals Inc. (URI), Hertz Global Holdings Inc. (HTZ) and Ryder System Inc. (R).
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