SEE-active Autohellas sees no impact on ops from Hertz filing for bankruptcy protection

SEE-active Autohellas sees no impact on ops from Hertz filing for bankruptcy protection

The filing for bankruptcy protection by U.S.-based car rental group Hertz Global Holdings will not affect the activity of Greece's Autohellas which holds the franchising rights to the Hertz brand in several Southeast European countries, the Athens-based company said.

Autohellas is not directly, financially affected by this evolution of events, because it has no shareholding or credit/borrower relationship with Hertz Global Holdings, it said in a statement last week.

Autohellas holds the franchising rights to the Hertz brand in Greece, Bulgaria, Serbia, Romania, Montenegro and Croatia.

Hertz Global Holdings, having been significantly affected by the consequences of the coronavirus pandemic and the mobility restrictions imposed during the last three months, filed for bankruptcy protection on May 22, Autohellas said.

"Based on Hertz Global Holdings’ official announcements, during the restructuring period of the company, its global network will remain fully operational for all three brands that Hertz owns (Hertz, Thrifty, Dollar and Firefly), without any further consequences on reservations or its loyalty schemes," Autohellas noted.

Provided that the debt restructuring process of Hertz Global is successfully completed, Autohellas estimates that Hertz will be able to operate its global network even more efficiently.

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