Dollar and Thrifty U.K. Franchisee to Open In-Terminal in Gatwick
LONDON, Aug. 30, 2004 -- Dollar Thrifty Automotive Group, Inc. today announced that Flightform Ltd., the company's master franchisee for the Dollar Rent A Car and Thrifty Car Rental brands in the U.K., will open in-terminal locations in Gatwick Airport for the first time. Flightform Ltd., partly owned by Andrew and Robert Burton who have been franchisees with the company since 1991, will open Dollar and Thrifty locations in both the North and South terminals at Gatwick effective immediately.
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"This is a very significant move for the Dollar and Thrifty brands, as it will dramatically increase our presence at Gatwick Airport," said Yves Boyer, Executive Vice President of International for Dollar Thrifty Automotive Group, Inc. "Flightform Ltd. and the Burton's have made a considerable financial investment at Gatwick in order to move their operations in-terminal. Dollar and Thrifty are high-profile global brands already, but the change will help both brands to achieve even greater growth in the coming years."
As part of the expansion announced today, Flightform Ltd. plans to double its fleet at Gatwick over the next 12 months. In addition, Thrifty plans to open two new locations, one at Stansted Airport and the other in Newcastle, in September.
Robert Burton, Managing Director of Dollar Thrifty UK, said, "The addition of the Dollar brand in the U.K. has given us the confidence for the first time to move in-terminal. With a significant increase in reservations coming in from two brands, we believe both Thrifty and Dollar are positioned for significant growth in the U.K. Being in-terminal at Gatwick also enables us to look much more seriously at inbound tour business. With Dollar being so strong in the tour market, we see this as a major opportunity for us in the coming years."
Flightform UK Ltd., trading as Thrifty Car Rental, is the holder of the master franchises for both Thrifty Car Rental and Dollar Rent a Car brands. The company currently has 74 branches in the UK; 48 licensees operating 60 locations and 14 corporately owned locations with an online presence at http://www.thrifty.co.uk/ and http://www.dollar.co.uk/ . Over 15% of the UK fleet is commercial vehicles.
About the Dollar Thrifty Automotive Group
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission, Value Every Time, the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value- conscious travelers in approximately 70 countries. Dollar and Thrifty have approximately 800 corporate and franchised locations in the United States and Canada, and they have operations at most major airports. The Company's more than 8,000 employees are located mainly in North America, but global service capabilities exist through an ever expanding franchise network. For additional information, visit http://www.dtag.com/ .
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations. These factors include: price and product competition; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
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