Hertz (HTZ) Partners With Aeromexico To Enhance Service

Hertz Global Holdings Inc. (NYSE:HTZ) revealed that its subsidiary The Hertz Corporation has inked a deal with Hertz Mexico (operated by Avasa) and leading Mexican airline – Aeroméxico. The three-way and exclusive partnership will allow passengers traveling with Aeroméxico to book car rentals with Hertz at the best rates through the airline's website (Aeromexico.com) and call center.

Aeroméxico operates as a key international airline serving 84 destinations in Mexico; North, South, and Central America; the Caribbean, Europe, and Asia. The company caters to more than 20 million customers.

Coming back to the deal, Aeroméxico travelers can avail car rentals with Hertz and Firefly in Mexico, as well as Hertz, Dollar, Thrifty and Firefly in the airline’s destinations worldwide. These travelers can avail special rates for Hertz and Firefly in Mexico by showing boarding pass at the brand’s car rental desk in airports across the country. Further, passengers can make use of the new car rental booking engine at Aeromexico.com to comfortably book flights and car rentals.

Further, Hertz Mexico will feature Aeroméxico branding and offers on its website and car rental desks at the airports.

A deal of this kind is not new for Hertz. The company has been establishing such partnerships in various countries owing to its strong tradition to innovate, offering customers enhanced convenience and high quality service. Additionally, the company remains keen on expanding its reach globally. In one such move, the company launched the Hertz, Dollar and Thrifty operations in Colombo, the capital of Sri Lanka, in May this year. The launch came after the company entered a multi-year agreement with local franchise partner Andrew The Car Rental Company (Pvt) Ltd.

Hertz closed at $9.26 yesterday, down 6.2%. This Zacks Rank #5 (Strong Sell) stock has a dismal price performance history, which is evident from its underperformance of the Zacks categorized Transportation – Services industry. Hertz crashed 81.8% since its separation from its equipment rental business, compared with the industry’s fall of 28.3%.

Stocks to Consider

Better-ranked stocks in the same industry include Grupo Aeroportuario del Sureste, S.A. de C.V. (NYSE:ASR) , sporting a Zacks Rank #1 (Strong Buy), Matson Inc. (NYSE:MATX) and NORTHGATE PLC NGTEF, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Grupo Aeroportuario has surged 39.7% year to date. Moreover, the company has a long term EPS growth rate of 4.4%.

Matson has a long term EPS growth rate of 5%. Also, the company has seen positive estimate revisions in the last 60 days.

NORTHGATE has a long term EPS growth rate of 5%. Further, the company’s estimates for the current fiscal have witnessed an uptrend in the last 60 days.

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