UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
report (Date of earliest event reported): June 15, 2009 (June 15,
2009)
Avis
Budget Group, Inc.
(Exact
name of registrant as specified in its charter)
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Delaware
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1-10308
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06-0918165
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(State
or Other Jurisdiction of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification Number)
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6
Sylvan Way
Parsippany,
NJ
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07054
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(973)
496-4700
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(Registrant’s
telephone number, including area code)
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N/A
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(Former
name or former address, if changed since last
report)
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
7.01
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Regulation
FD Disclosure.
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On
June
15, 2009, we issued a press release announcing that we have posted an investor
update presentation to our website at
www.avisbudgetgroup.com/investor_relations.
A
copy of the press release is
furnished as Exhibit
99.1 to this report
and is incorporated herein by reference.
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Item
9.01
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Financial
Statements and Exhibits.
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(99)
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Exhibits.
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Exhibit
No.
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Description
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99.1
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Press
Release dated June 15, 2009.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereto
duly authorized.
AVIS
BUDGET GROUP,
INC.
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By:
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/s/ Jean
M. Sera
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Name:
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Jean
M. Sera
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Title:
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Senior
Vice President and Secretary
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Date:
June 15, 2009
AVIS
BUDGET GROUP, INC.
CURRENT
REPORT ON FORM 8-K
Report
Dated June 15, 2009 (June 15,
2009)
EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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Press
Release dated June 15, 2009.
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Exhibit
99.1
Press
Release
AVIS
BUDGET GROUP POSTS INVESTOR PRESENTATION
THAT
PROVIDES SECOND QUARTER UPDATES
PARSIPPANY,
N.J., June 15, 2009 – Avis Budget Group, Inc. (NYSE:
CAR) today announced that it has posted an investor update presentation
to its website at www.avisbudgetgroup.com/investor_relations. The
presentation, which will be discussed with investors in upcoming meetings,
provides updates on second quarter trends including pricing and volume, the
used
car market and cost saving initiatives.
Forward-Looking
Statements
Certain
statements in this press release constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from
any
future results, performance or achievements expressed or implied by such
forward-looking statements. Statements preceded by, followed by or
that otherwise include the words "believes", "expects", "anticipates",
"intends", "projects", "estimates", "plans", "may increase", "may fluctuate",
"forecast" and similar expressions or future or conditional verbs such as
"will", "should", "would", "may" and "could" are generally forward-looking
in
nature and not historical facts. Any statements that refer to
expectations or other characterizations of future events, circumstances or
results, including all statements related to 2009, are forward-looking
statements.
Various
risks that could cause future results to differ from those expressed by the
forward-looking statements included in this press release include, but are
not
limited to, a weaker-than-anticipated economic environment, the high level
of
competition in the vehicle rental industry, greater-than-expected cost increases
for new vehicles, disposition of vehicles not covered by manufacturer repurchase
programs, the financial condition of the manufacturers of our cars, including
General Motors, which has filed for Chapter 11 bankruptcy protection, a
greater-than-anticipated downturn in airline passenger traffic, an occurrence
or
threat of terrorism, our ability to obtain financing for our operations,
including the funding of our vehicle fleet via the asset-backed securities
market, including our ability to issue debt under the TALF program and the
financial condition of financial-guaranty firms that have insured a portion
of
our outstanding vehicle-backed debt, higher-than-expected fuel costs,
fluctuations related to the mark-to-market of derivatives which hedge our
exposure to exchange rates, interest rates and fuel costs, the Company’s ability
to meet or amend financial covenants associated with its borrowings and the
Company’s ability to accurately estimate its future results and implement its
strategy for cost savings and growth, particularly in the current
environment. Other unknown or unpredictable factors also could have
material adverse effects on Avis Budget Group’s performance or
achievements. In light of these risks, uncertainties, assumptions and
factors, the forward-looking events discussed in this press release may not
occur. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date stated, or if no
date is stated, as of the date of this press release. Important
assumptions and other important factors that could cause actual results to
differ materially from those in the forward-
looking
statements are specified in Avis Budget Group's Annual Report on Form 10-K
for
the year ended December 31, 2008 and our Quarterly Report on Form 10-Q for
the
quarter ended March 31, 2009 included under headings such as "Forward-Looking
Statements", "Risk Factors" and "Management’s Discussion and Analysis of
Financial Condition and Results of Operations" and in other filings and
furnishings made by the company with the SEC from time to
time. Except for the Company's ongoing obligations to disclose
material information under the federal securities laws, the Company undertakes
no obligation to release publicly any revisions to any forward-looking
statements, to report events or to report the occurrence of unanticipated events
unless required by law.
About
Avis Budget Group, Inc.
Avis
Budget Group is a leading provider of vehicle rental services, with operations
in more than 70 countries. Through its Avis and Budget brands, the company
is a
leading general-use vehicle rental company in each of North America, Australia,
New Zealand and certain other regions based on published airport
statistics. Avis Budget Group is headquartered in Parsippany, N.J. and has
more than 26,000 employees. For more information about Avis
Budget Group, visit www.avisbudgetgroup.com.
Media
Contact Investor
Contact
John
Barrows David
Crowther
(973)
496-7865
(973) 496-7277