Hertz reported a $56.3 million net loss for the first three months of 2012, compared with a $128.9 million loss for the same period last year.

Despite a nearly 4 percent decline in worldwide rental rate revenue per transaction day, rental car revenues grew 10 percent year over year to $1.66 billion, thanks to an increase of nearly 7 percent in transaction days. CEO Mark Frissora during the company's quarterly earnings call on Thursday said that U.S. on-airport corporate pricing fell 3.6 percent year over year. Hertz executives expected rental car demand in the U.S. to remain strong throughout the second quarter.