UPDATE 1-Avis Group sees double-digit volume fall in Q2
* Sees per-unit fleet costs increase in 2009
* To continue to pursue price increases where possible
* Says '09 peak financing requirements in place
June 15 (Reuters) - Car rental company Avis Budget Group Inc (CAR.N: Quote, Profile, Research) expects double-digit volume declines in the second quarter, but said comparisons should improve in the second half of 2009.
Avis' per-unit fleet costs are expected to increase by a single-digit percentage in 2009, the Parsippany, New Jersey-based company said in a presentation to investors.
Avis Budget, which closed 12 off-airport locations in the first quarter and shut its Wichita Falls reservation center, said will be closing its Orlando claims center in June.
Price increases are being pursued where possible and only minimal disruption is expected as a result of the bankruptcies of original equipment manufacturers, the company said.
It said peak financing requirements for 2009 were in place and virtually no Asset Backed Securities (ABS) term debt maturities remain in 2009.
It said it expects to issue $1 billion to $1.5 billion of ABS term debt under the U.S. government-sponsored Term Asset-Backed Securities Loan Facility (TALF) program over the next 12 months. (Reporting by Eric Yep in Bangalore; Editing by Gopakumar Warrier)
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