"When the economy began to show signs of recovery earlier this year, we were perfectly positioned to drive a competitive process that would maximize recoveries. The result — paying our nearly $19 billion of creditors in full and returning substantial value to our shareholders — is remarkable," Keizer said.
In tandem with its financial restructuring, Hertz said it has undertaken a series of operational steps to create a more focused and profitable enterprise. That includes slashing costs and right-sizing its fleet.
Another important move in bankruptcy? Hertz sold its Donlen fleet leasing business for $891 million in cash.
Looking ahead, Hertz said it's "on track for strong financial results in 2021," in large part due to a sharp increase in car rentals in the United States, driven by a decline in new COVID cases and rise in vaccinations nationally that has fueled more travel.