Avis Budget, Seaborne Team Up to Serve Caribbean - Analyst Blog

Avis Budget Group, Inc. ( CAR ) and Seaborne Airlines have teamed up to present their customers with exclusive offers. This collaboration is expected to help both the companies in increasing their customer base across the Caribbean.

The new multi-year partnership agreement will facilitate Seaborne Airlines' customers to access a wide range of vehicle from Avis Car Rental, Budget Car Rental and Payless Car Rental. The customers visiting the airlines' website can directly book an Avis vehicle either as a stand-alone or by adding a vehicle while booking a flight.

Operating for over 20 years across the Caribbean, Seaborne Airlines is one of the largest air services providers in the region. The airline makes approximately 2,100 departures across 18 airports in the island and carries over 2 million customers.

We believe that the deal is a win-win situation for both the companies, which provides them with an opportunity to expand their customer base thereby boosting top-line growth.

Avis Budget is one of the world's leading vehicle rental companies conducting its operations in approximately 175 countries. Moreover, a formidable network of more than 10,000 rental locations and 350,000 vehicles enable the company to strengthen its well-established position in a highly competitive vehicle rental industry.

This Zacks Rank #1 (Strong Buy) company follows a core global strategy of collaborating with leading travel brands to expand its customer reach while creating additional demand. In March this year, Avis successfully completed the acquisition of the world's leading car sharing network company, Zipcar Inc. for a total value of $500 million.

We believe that the strategic move will facilitate the company to expand its offerings from car rental to car sharing and compete with rivals such as United Rentals Inc. ( URI ), Hertz Global Holdings Inc. ( HTZ ) and Ryder System Inc. ( R ).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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