Avis Budget Extends International Airlines Group Partnership
Zacks Investment Research | Oct 09, 2017 09:46PM ET
Vehicle rental & leasing services provider Avis Budget Group, Inc. (NASDAQ:CAR) recently extended its strategic partnership with International Airlines Group (LON:ICAG). The collaboration is likely to strengthen Avis Budget’s business relationship with the multinational airline holding company and ensure a steady revenue stream.
International Airlines Group is reportedly the third largest group in Europe and the sixth largest in the world based on revenues with 547 aircraft flying to 268 destinations and carrying more than 100 million passengers each year. It is the parent company of Aer Lingus, British Airways, Iberia and Vueling — the leading airlines in Ireland, the U.K. and Spain.
Avis Budget has had business tie-ups with International Airlines Group for more than two decades through Iberia Plus loyalty program, Avios Travel Rewards Program and the British Airways Executive Club. Over the years, the company has offered a complete range of car rental services to airline customers across the globe for a seamless travel experience.
In order to take their association to the next level, the company inked a new business agreement with International Airlines Group. Per the exclusive multi-year deal, both Avis Car Rental and Budget Car Rental will be available for booking through British Airways, Iberia and Iberia Express. Aer Lingus is also expected to follow suit very shortly. Furthermore, the renewed agreement will offer exclusivity with British Airways Executive Club, Aer Club, Iberia Plus and the Avios Travel Rewards Program.
Avis Budget has underperformed the Zacks Investment Research
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