Cyprus Mail
Cyprus

Hertz franchise still operative in Cyprus despite bankruptcy in US and Canada

Rental car company Hertz Global announced on Wednesday that, despite filing for bankruptcy on May 22 in the US and in Canada, its franchise in Cyprus Autohellas will remain fully operational.

“Autohellas, who holds the franchising rights to the Hertz brand in Greece and in seven countries around the Balkans, plus Cyprus, does not have any shareholding or credit/borrower relationship with Hertz Global Holdings. Therefore, Autohellas is not directly, financially affected by this evolution of events,” a statement released by the company said.

Hertz Global owns the franchising rights for four different rental car companies, namely Hertz, Thrifty, Dollar and Firefly.

Short-term rentals, which constitute the main area of operations of Hertz Global, constitute 16 per cent of Autohellas, while 84 per cent of revenues stem from long-term rentals.

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