Pullach, GERMANY –
The Advantage Rent a Car bankruptcy gave SIXT a chance to enhance its U.S. footprint for renting its premium fleet of vehicles.
According to a news release distributed just before the holiday weekend, a Delaware bankruptcy court approved SIXT taking over 10 airport branches in the United States from Advantage Rent a Car. Starting most likely in mid-July, SIXT said it will receive the airport concessions at the strategically important locations Boston (BOS), New York (JFK and LGA), New Jersey (EWR) and Houston (IAH).
SIXT also said it will also be renting its premium fleet in Orlando, Fla. (MCO), Denver (DEN), Maui, Hawaii (OGG), Honolulu (HNL) and Las Vegas (LAS) directly in the airport terminal.
“SIXT thus offers its private and business customers an even better network and shorter distances for a comfortable journey,” the company said.
The company went on to note the expanded branch network in the U.S. rounds off SIXT’s offering for business and private customers and creates a basis for new growth potential.
SIXT is thus continuing to tap into one of the most lucrative markets in the rental segment. With a huge market volume of more than $36 billion, SIXT pointed out the United States is currently by far the largest growth market for the mobility provider.
The company indicated the acquisition of the new branches alone holds great potential, as the volume of the 10 airports in total is estimated at around $3.4 billion. This figure roughly equals the total potential of the rental car business in Germany, according to the SIXT.
SIXT went on to mention the current circumstances caused by the coronavirus crisis and the insolvency of the car rental company Advantage offered SIXT a unique opportunity to acquire the 10 highly coveted airport concessions at an attractive price.
Through this investment, SIXT managing board member Alexander Sixt highlighted that the company is gaining access to travelers in airports who otherwise would have been difficult to reach for years or even decades.
“With this highly pragmatic transaction, we have taken a very decisive strategic step towards building a nationwide network in the world’s largest car rental market,” Sixt said. “The acquisition of the concessions for all New York airports as well as for Boston, Orlando and Las Vegas, among others, lays the foundation for substantial growth after the crisis.”