Car rental company Hertz UAE said that its operations in the country are not influenced by the fall of its parent company in the US.
Yet, the UAE subsidiary is expecting an official communication from Hertz Global Holdings, which listed for bankruptcy protection in the US after coronavirus hurt its business. By the end of March, Hertz Global Holdings had racked up $18.7 billion in debt with only $1 billion of available cash.
“We, as trademark operator for Hertz in the UAE, are awaiting official updates from Hertz Global Holdings on this subject. In the meantime, our operations remain unaffected by the development” – Hertz UAE statement
In the UAE, Al-Futtaim Automotive Group owns the franchise for Hertz UAE, which has been running in the country since 1993. The car rental firm is one of the largest buyers of vehicles in the UAE, reaching over 10,000 vehicles on fleet and 15 rental locations in the UAE.
“We are not in a position to comment on the situation at the moment and we will continue to manage our operations to the standards expected of an Al-Futtaim Automotive Group company.” Hertz UAE said in an official statement.
Hertz Global Holdings and its subsidiaries will remain to operate, according to a release. Hertz’s principal international operating regions and franchised locations are not included in the filing, the US-based company said a statement released in the US.
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