Hertz Pays Lenders $ 650 Million to Resolve Fleet Reduction Dispute, Auto News, ET Auto


Under the agreement, Hertz will pay $ 650 million in equal monthly installments from July through December.

New York: Hertz Global Holdings Inc said Friday it entered into a $ 650 million interim agreement with its lenders to settle a bankruptcy court dispute over the company’s plan to reduce its leased rental car fleet.

Under the agreement, Hertz will pay $ 650 million in equal monthly installments from July through December.

the Car rental In addition, the company will sell at least 182,521 leased vehicles between June and December.

Hertz filed for bankruptcy in May after its business was decimated by the coronavirus outbreak and discussions with its lenders failed to provide the much-needed relief.

Also read: Bengaluru: electric cars in mind, rental car companies sell used vehicles at huge discounts

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