Home Rental Cars SIXT Buying 10 Locations Of Bankrupt Advantage Rent A Car

SIXT Buying 10 Locations Of Bankrupt Advantage Rent A Car

by SharonKurheg

Although gaining more hold in the U.S., for years SIXT has been touted as the biggest car rental firm you’ve never heard of. We finally got to use them in 2018 and really enjoyed our experience.

Founded in Germany in 1912, SIXT was one of the first rental car companies in the world. Fast forward about 100 years and 2000 worldwide locations, and Sixt expanded into the U.S.

Third generation chairman of his family’s namesake business, Erich Sixt, told Forbes in 2017 that, “In 10 years, we will probably have 2,000 locations in the United States. That is what I foresee. I would like to become an American company. I am not kidding.”

Welp, they just got a sweet deal to help them with their goal.

SIXT is taking over 10 airport locations from Advantage Rent A Car, which declared Chapter 11 bankruptcy in May (thank-you, coronavirus). A Delaware bankruptcy court approved the move late last week.

The acquisition will give SIXT access to some of the biggest markets in the country, as it will get the airport concessions at the strategically important locations Boston (BOS), New York (JFK and LGA), New Jersey (EWR) and Houston (IAH), as well as Orlando, Fla. (MCO), Denver (DEN), Maui, Hawaii (OGG), Honolulu (HNL) and Las Vegas (LAS) directly in the airport terminal.

The company said in a press release that the acquisition of the new branches alone holds great potential. The volume of the 10 airports in total is estimated to be about $3.4 billion, which is roughly the total potential of the rental car business in Germany.

SIXT also said the current circumstances caused by the coronavirus crisis and the insolvency of Advantage Rent A Car offered them a unique opportunity to acquire the 10 highly coveted airport concessions at an attractive price.

“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.”

After our positive experience with SIXT, we’re glad for their expansion. More of a good thing is always positive.

*** Feature Photo: SIXT

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This post first appeared on Your Mileage May Vary

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