AVIS Europe reported a 5% drop in revenue between September
11 and the end of 2001 although revenue growth for the year was up 4.2%
compared to the previous year.
The company insisted transatlantic business was recovering
but warned that corporate bookings in northern Europe were not showing any
sustained improvement. Group finance
director Martyn Smith has been appointed to the board after joining the firm
from John Menzies. Meanwhile 70-year-old non-executive director Wally Taylor
retired from the board.