Fleet News

Budget sell-off

TROUBLED rental giant Budget Group, which filed for bankruptcy earlier this month, has sold off key parts of its international business to Cendant, owner of key rival Avis Car Rental.

Budget operations in the United States, Canada, Australia, New Zealand and Latin America have been sold to Cendant for about £67 million, along with about £1.7 billion of vehicle-related debt.

Cendant will continue to run the businesses under the Budget brand name. It owns Avis Car Rental, Galileo travel distribution services, Cendant Travel Services, Cendant's nine lodging brands and CheapTickets.

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