Avis Budget Group said commercial travel in the third quarter "declined faster than anticipated

." The company posted a net loss of just over $1 billion, including a $1.3 billion goodwill impairment charge. Income from continuing operations declined 11 percent to $57 million. Avis Budget said full-year revenue would be lower than in 2008 and that it expects to report a pretax loss for the fourth quarter. It announced several new cost-saving initiatives and "targeted increases in pricing."