SIXT continues international expansion and acquires strategically important airport branches in the US growth market
- SIXT acquires ten strategically important airport branches and is thus represented at nearly every important traffic hub in the country
- Consistent focus on international expansion – the acquisition of the new branches brings additional car rental sales potential in the US growth market
- Alexander Sixt: “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. 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.”
Pullach, July 02, 2020 – The international provider of mobility services SIXT is taking over ten airport branches in the United States from the insolvent company Advantage Rent a Car and is thus represented at nearly every important traffic hub in the country. The transaction was approved on July 1st by the responsible Bankruptcy Court in Delaware. Starting most likely in mid-July, SIXT will receive the airport concessions at the strategically important locations Boston (BOS), New York (JFK and LGA), New Jersey (EWR) and Houston Texas (IAH). SIXT will also be renting its premium fleet in Orlando (MCO), Denver (DEN), Maui (OGG), Honolulu (HNL) and Las Vegas (LAS) directly in the airport terminal. SIXT thus offers its private and business customers an even better network and shorter distances for a comfortable journey.
US growth market
The expanded branch network in the US rounds off SIXT’s offering for business and private customers and creates a basis for new growth potential. SIXT is thus continuing to tap into one of the most lucrative markets in the car rental segment: With a huge market volume of over USD 36 billion, the US is currently by far the largest growth market for the mobility provider. The acquisition of the new branches alone holds great potential, as the volume of the ten airports in total is estimated at around 3.4 billion USD. This roughly equals the total potential of the rental car business in Germany.
The current circumstances caused by the corona crisis and the insolvency of the car rental company Advantage offered SIXT a unique opportunity to acquire the ten highly coveted airport concessions at an attractive price. Through this investment, SIXT is gaining access to travelers in airports who otherwise would have been difficult to reach for years or even decades.
About SIXT
Sixt SE with its registered office in Pullach near Munich, is a leading international provider of high-quality mobility services. With its products SIXT rent, SIXT share, SIXT ride and SIXT+ on the mobility platform ONE the company offers a uniquely integrated premium mobility service across the fields of vehicle and commercial vehicle rental, car sharing, ride hailing and car subscriptions. The products can be booked through the SIXT App, which also integrates the services of its renowned mobility partners. SIXT has a presence in more than 100 countries around the globe. The company stands for consistent customer orientation, a lived culture of innovation with strong technological competence, a high proportion of premium vehicles in the fleet and an attractive price-performance ratio. In 2023 Sixt Group achieved consolidated pre-tax earnings of EUR 464.3 million and another significant increase in consolidated revenue to EUR 3.62 billion. Sixt SE has been listed on the Frankfurt Stock Exchange since 1986 (ISIN ordinary share: DE0007231326, ISIN preference share: DE0007231334).
