Hertz Global Holdings, Inc. (NYSE:HTZ) today reported results for its second quarter 2020 with revenue of $832 million, a net loss of $847 million and adjusted Corporate earnings before interest, taxes, depreciation and amortization (EBITDA) of negative $587 million. Liquidity at the end of the second quarter was $1.4 billion.
In May, Hertz filed for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.
Total U.S. Rental Car (RAC) revenues were down 70% year-over-year during the quarter. Airport rental car volume declined 82%, roughly in line with airline travel weakness resulting from COVID-19 restrictions. Off