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Hertz files for US bankruptcy protection as car rentals evaporate in pandemic

Updated : May 24, 2020 12:00 PM IST

With nearly $19 billion of debt and roughly 38,000 employees worldwide as of the end of 2019, Hertz is among the largest companies to be undone by the pandemic.
The firm, whose largest shareholder is billionaire investor Carl Icahn with a nearly 39 percent ownership stake, is reeling from government orders restricting travel and requiring citizens to remain home.
A large portion of Hertz's revenue comes from car rentals at airports, which have all but evaporated as potential customers eschew plane travel.
Hertz files for US bankruptcy protection as car rentals evaporate in pandemic

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