Business Services Industry
Hertz Enters Losing Rental-Car Bid at Newport News, Va., Airport.(Originated from Daily Press, Newport News, Va.)
Knight Ridder/Tribune Business News, April, 1996 by Glynn, Matt
NEWPORT NEWS, Va.--Apr. 3--The four rental car companies inside the Newport News/Williamsburg Airport terminal are likely to stay put for the next four years. The Peninsula Airport Commission on Monday opened bids from five rental car companies for the terminal's four counters.
A key source of funds for the airport, the rental car companies pay the airport a guaranteed minimum or 10 percent of their revenues for the spaces.
Budget submitted the highest guaranteed minimum -- $699,600, or an average of $14,575 a month -- followed by Avis, Thrifty and National.
Those are the four companies already in the terminal. As happened four years ago, Hertz Corp., the nation's largest rental car company, finished fifth.
The bids aren't official until the...
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