Hertz reported a $36.4 million fourth-quarter net loss, primarily attributable to expenses related to the acquisition of Dollar Thrifty, reversing a $52.1 million profit recorded for the same period in 2011. Adjusted net income of $140.9 million exceeded the $140 million figure from a year earlier. The company reported a 3 percent year-over-year quarterly decrease in pricing, as measured by rate revenue per transaction day. Pricing "improved during the latter portion of the fourth quarter," according to Hertz, with December rate revenue per day up nearly 2 percent year over year for the Hertz brand and up nearly 5 percent for Dollar Thrifty. Rental car revenue increased 14 percent year over year, due in large part to the addition of Dollar Thrifty, with transaction days up 17 percent year over year.
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International Consolidated Airlines Group, parent company to British Airways and Iberia, on Friday reported a fourth-quarter profit of €138 million,... read more »