Business Services Industry
Fort Lauderdale, Fla.-Based Rental-Car Giant Foresees More Devastating Losses.
Knight Ridder/Tribune Business News, September, 2001
By Patrick Danner, The Miami Herald Knight Ridder/Tribune Business News
Sep. 25--Already pummeled by a weak economy, Fort Lauderdale rental-car giant ANC Rental Corp. warned Monday its operations will take another big hit from this month's terrorist attacks.
The parent of Alamo Rent A Car and National Car Rental expects its business will plunge 30 percent through January, Michael S. Egan, ANC's chairman and chief executive, told financial news network CNBC. And he forecast a 20 percent fall-off from February through early next summer.
Like the airlines, ANC may seek aid from the federal government as a way to improve its financial condition.
ANC, which last month hired investment banking firm Lehman Bros. to explore options...
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