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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.

United statesAndrew shannahanVincent intrieriMary walrathHenry keizerThomas wagnerMichael gregory oharaMark fieldsChristopher lahoudHertz global holdingsFord motor coCapital managementUs postal serviceKnighthead capital managementCertares opportunitiesHertz corp