Jan 15 Car rental company Hertz Global Holdings
Inc said Europe was more challenging than expected in
the fourth quarter and there was no economic recovery in sight.
Pricing to business travelers at U.S. airports remained
under pressure, Hertz said in a regulatory filing ahead of its
presentation at the Deutsche Bank Global Auto Industry
Conference in Detroit.
Hertz expects Europe revenue to be flat in 2013 and pricing
pressure in the United States to continue.
Rival Avis Budget Group Inc in November forecast
profit for the full year below expectations as a weak European
economy hurt travel demand.
Hertz, which late last year bought smaller rival Dollar
Thrifty to boost its leisure offering, expects the acquisition
to be neutral to earnings in the fourth quarter.