Hertz and Avis Budget appear to be benefiting as travelers balk at airport wait times
As the Department of Homeland Security shutdown drags on, resulting in some excruciating airport wait times, rental car companies Avis and Hertz are seeing a boost.
Both companies are up more than 10% on Thursday, continuing a weeklong trend of trading momentum. From market close on March 20 to midday Thursday, Avis shares are up about 44%, while Hertz shares are up 24%.
Would-be flyers may be pivoting from sky to highway, even as gas prices climb. According to TravelPulse, search traffic for Hertz is up 15% in recent days.
The TSA is experiencing the longest wait times in its 24-year history, officials have said. Airfares rising as jet fuel prices remain elevated is likely adding to travelers’ decision.
Would-be flyers may be pivoting from sky to highway, even as gas prices climb. According to TravelPulse, search traffic for Hertz is up 15% in recent days.
The TSA is experiencing the longest wait times in its 24-year history, officials have said. Airfares rising as jet fuel prices remain elevated is likely adding to travelers’ decision.
