PR84134

Singapore, May 24, 2020 /PRNewswire＝KYODO JBN/ --

Recently, Eoin MacNeill, Hertz's Vice President, APAC made the following

comments to reinforce that it is business as usual for Hertz in Asia:

"The short term self-drive vehicle rental industry, of which Hertz is a key

player, has been deeply impacted around the world by the COVID-19 pandemic and

the consequent downturn in domestic and international travel. However, Hertz

continues to operate as normal in Asia. This includes the following regions;

Singapore, Guam, Saipan, Thailand, Malaysia, Taiwan, Hong Kong, Brunei,

Pakistan, Cambodia, Vietnam, Macao, Japan, Philippines, Korea, India and

Mainland China.

"The decision by Hertz Global Holdings and certain of its U.S. and Canadian

subsidiaries to voluntarily file for reorganization under Chapter 11 in the

United States Courts has no material impact on Hertz operations in Asia which

each operate under franchise arrangements.

"Customers can expect the same high level of service and reliability with

enhanced cleaning protocols for extra peace of mind and Hertz loyalty programme

points and rewards are not affected.

"It's business as usual for Hertz in Asia. Hertz locations are open across the

APAC region and ready to help customers with their rental needs – whether for

business or leisure purposes.  All Hertz reservation, loyalty and customer

programs continue to operate, including Hertz Gold Plus Rewards as well as our

rewards, coupon and voucher programs.

"Since the pandemic began, we have undertaken a range of measures to reduce

costs and ensure we keep the business as robust as possible in both markets. We

have cut all discretionary spending, reduced labour costs and sought new rental

agreements with landlords. We have also been de-fleeting our network, and

de-registering unused vehicles."

Background:

The term 'Chapter 11' is specific to the U.S. legal environment and describes

the move by a company to file for protection while management works on a

financial restructure. It does not equate to bankruptcy, in the sense that many

people understand that word.

The decision by the U.S. organisation to enter Chapter 11 will no doubt provide

positive benefits in the medium-longer term as it will allow the Hertz business

to continue operating while it deals with the continuing effects of coronavirus

and positions itself for growth.

So effectively it's 'business as usual' for Hertz APAC, as we look to prepare

our operations for the recovery phase as lock-downs are lifted and corporate

and leisure travellers start to return to the market.

We are confident we're taking the right steps to protect Hertz across the APAC

region for the economic rebound and we'd like to thank our franchisees, staff

and valued customers for their continuing support.

Source: Hertz APAC