Dollar Thrifty Automotive Group Franchise News

TULSA, Okla., May 16, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) is pleased to announce three corporate location openings. The Company has opened two since January 1, 2012 and has plans for a third location in July.
The openings include a Thrifty Car Rental location at the John F. Kennedy Airport (JFK) in New York, NY which opened on March 1, 2012 and the re-establishment of a Dollar Rent A Car location at the Brownsville/South Padre Island International Airport (BRO) in Brownsville, Texas on May 1, 2012. Additionally, the Company will open a Dollar Rent A Car location at the Burlington International Airport (BTV) in Burlington, VT on July 1, 2012.
"One of our stated goals as we began the year was to identify opportunities to grow profitable revenue through new store openings," said Scott Thompson, Chairman, President and Chief Executive Officer...

TULSA, Okla., May 14, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today reported that on May 11, 2012 Moody's Investor Services raised the Company's corporate family rating to B1. The Company noted that the Company's corporate family rating is factored into the collateral enhancement requirements under its securitized fleet financing facilities, and this upgrade will allow the Company to reduce its collateral enhancement requirements by up to $75 million over time as existing facilities are refinanced.
"We are pleased that our strong operating results, well-established position in the value segment of the rental car market and the strength of our balance sheet resulted in this upgrade," said Scott L. Thompson, Chairman, President and Chief Executive Officer...

TULSA, Okla., April 23, 2012 /PRNewswire via COMTEX/ --Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today provided preliminary guidance on expected results for the first quarter of 2012. Additionally, the Company provided an update on earnings per share and Corporate Adjusted EBITDA expectations for the full year of 2012.
Earnings per share in the first quarter of 2012 is expected to range from $1.30 to $1.40 per diluted share, compared to $0.53 per diluted share in the first quarter of 2011. The Company expects Corporate Adjusted EBITDA to range from $75 million to $80 million for the first quarter of 2012, compared to $36.3 million in the first quarter of 2011. The significant year-over-year improvement in both earnings per share and Corporate Adjusted EBITDA was primarily attributable to very favorable fleet costs, combined with lower interest and selling, general and administrative expenses as compared to the prior-year period...

24 new franchise locations opened in 2012
TULSA, Okla., April 18, 2012 /PRNewswire via COMTEX/ --Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that after opening 23 U.S. and Canada franchise locations in 2011, it has opened an additional seven U.S. locations in the first quarter of 2012. Additionally, the Company continued to expand internationally and added 17 franchise locations abroad in the first quarter of 2012. These 2012 international locations follow 61 franchise location openings in 2011.
"We are very pleased with our continued growth in franchising, both in international markets and in certain smaller domestic markets where franchising is our preferred structure," said Scott Thompson, President, CEO and Chairman of the Board of Dollar Thrifty Automotive Group, Inc...

67 percent of 2012 fleet purchase receives 30 miles per gallon or better.
TULSA, Okla., April 2, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that it anticipates significant cost savings for its customers based on the improved fuel efficiency of the rental cars in the Company's 2012 fleet purchase. As a part of the latest fleet purchase, 67 percent of the vehicles have a highway fuel-efficiency rating of 30 miles per gallon (mpg) or better. Additionally, 98 percent of Dollar Thrifty's general car models achieve 28 highway mpg or better.
"With escalating gas prices and the increasing burden on travelers, Dollar Thrifty maintains its commitment to delivering value by continuing to purchase vehicles with improved fuel efficiencies," said Scott Thompson, President and CEO, Chairman of the Board...

Non-GAAP EPS Triples in the Fourth Quarter 2012 Outlook Initiated
TULSA, Okla., Feb. 21, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today reported results for the fourth quarter and year ended December 31, 2011. Net income for the 2011 fourth quarter was $33.9 million, or $1.08 per diluted share, compared to net income of $12.5 million, or $0.41 per diluted share, in the fourth quarter of 2010. Net income for the fourth quarter of 2011 was negatively impacted by $0.01 per diluted share related to changes in fair value of derivatives, compared to a favorable impact on net income of $0.14 per diluted share related to changes in fair value of derivatives in the fourth quarter of 2010.
Non-GAAP net income for the 2011 fourth quarter was $34...

TULSA, Okla., Feb. 21, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that its Board of Directors has approved an amendment to the Company's shareholder rights plan ("Rights Plan"), which was originally adopted May 18, 2011, and under which Dollar Thrifty shareholders will receive rights to purchase shares of a new series of preferred stock in certain circumstances. The Rights Plan was adopted to deter any attempt to obtain control of the Company in a manner or on terms that are not in the best interests of the Company and all shareholders.
Under the terms of the amendment, the Rights Plan will now expire on May 30, 2013, a one year extension of the original expiration date. No other changes to the Rights Plan were made...

TULSA, Okla., Feb. 17, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced the completion of a new five-year $450 million senior secured credit facility that significantly enhances the Company's liquidity, as well as its operating and financing flexibility.  The new senior secured credit facility increases the Company's available revolving credit capacity by approximately $220 million compared to the Company's previous facility, and extends the maturity date to 2017 from 2013.  In addition to incremental financing capacity available for general corporate purposes or the issuance of letters of credit, the new facility provides the Company with greatly improved flexibility to manage growth initiatives and capital structure initiatives...

TULSA, Okla., Feb. 9, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced the completion of a $100 million forward stock repurchase agreement that was executed on November 3, 2011.  In conjunction with the agreement, the Company repurchased 1,451,193 shares of stock at an average price of approximately $68.91.  After giving effect to the share repurchase, the Company noted it now has approximately 28.1 million common shares outstanding.
"We are pleased to announce that we have returned $100 million to shareholders through the   share repurchase agreement that was announced during the fourth quarter of 2011," said Scott L. Thompson, Chairman, President and Chief Executive Officer...

TULSA, Okla., Jan. 31, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) will announce fourth quarter and full year 2011 financial results prior to market open on Tuesday, February 21, 2012.
A conference call to review the Company's fourth quarter and full year 2011 results will be held at 8:00 a.m. CST on Tuesday, February 21, 2012. Scott Thompson, President and Chief Executive Officer, will lead the call. Also participating will be Cliff Buster, Chief Financial Officer. A live audio webcast of the call will be available on the Company's website www.dtag.com. Domestic participants should call 888-603-9215 and use the passcode "Dollar Thrifty." The number for international participants is 203-827-7046. Please call in approximately 10 minutes prior to the beginning of the call...

TULSA, Okla., Dec. 12, 2011 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) announced today that Scott L. Thompson, President and Chief Executive Officer, will assume the role of Chairman of the Board of Directors effective immediately. Mr. Thompson will assume that role from Richard W. Neu, who will remain on the Board of Directors in the position of Lead Independent Director.
About Dollar Thrifty Automotive Group, Inc.
Through its Dollar Rent A Car and Thrifty Car Rental brands, the Company has been serving value-conscious leisure and business travelers since 1950. The Company maintains a strong presence in domestic leisure travel in virtually all of the top U.S. and Canadian airport markets, and also derives a significant portion of its revenue from international travelers to the U...

TULSA, Okla., Oct. 26, 2011 /PRNewswire via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) (the "Company") today announced that its Rental Car Finance Corp. subsidiary ("RCFC") completed the private placement of $400 million of Series 2011-2 asset backed medium-term notes. In connection with the placement, RCFC terminated the outstanding Series 2010-2 Variable Funding Note Facility, which had available undrawn capacity of $300 million, with scheduled amortization payments beginning in July 2013 and an expected final maturity in December 2013.
The Series 2011-2 notes bear interest at a fixed rate with an annual coupon of 3.21%, and have scheduled amortization payments commencing in December 2014, with an expected final maturity in May 2015...

TULSA, Okla. and CHICAGO, Oct. 18, 2011 /PRNewswire via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced it has extended its agreement with Orbitz Worldwide, Inc. (NYSE: OWW) to distribute its Dollar Rent A Car and Thrifty Car Rental brands through the Orbitz family of sites until the end of 2014.
"Since joining the program earlier this year, we have been extremely pleased with the reservation volume our brands have received from Orbitz, said Scott Thompson, president and CEO of Dollar Thrifty Automotive Group, Inc. "We think our value brands are perfectly aligned with Orbitz's customer base, and we look forward to a long, productive relationship."
"The addition of the Dollar and Thrifty brands to our distribution has greatly improved our product offering in the car rental space, particularly for our value-seeking customers...

Company Reiterates Share Repurchase Plan and Preliminary Guidance for Third Quarter Results
TULSA, Okla., Oct. 11, 2011 /PRNewswire via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that it has formally concluded its process to solicit definitive proposals regarding a potential business combination. On August 21, 2011, Dollar Thrifty issued a letter advising parties of the Company's intention to solicit for submission in early October 2011 best and final definitive proposals regarding a potential business combination. In its letter, Dollar Thrifty stated that any proposal that did not eliminate the antitrust regulatory risk of the transaction for its shareholders would not likely be acceptable. As of October 10, 2011, the Company had not received any proposals meeting this criterion...

TULSA, Okla., Sept. 30, 2011 /PRNewswire via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that its Rental Car Finance Corp. subsidiary completed the early renewal of its Series 2010-3 Asset Backed Variable Funding Notes ('the Conduit Facility″). In conjunction with the renewal, available capacity under the Conduit Facility was increased to $600 million from $450 million, and the revolving period under the facility was extended to a two-year tenor from the previous 364-day structure. Additionally, the advance rate was increased from approximately 65 percent to approximately 69 percent.
The Conduit Facility bears interest at a spread of 130 basis points above each purchasing institution's cost of funds, which may be based on either the weighted average commercial paper rate, one-month LIBOR or Eurodollar rate as applicable...

Company Provides Preliminary Guidance on Expected Third Quarter Results

TULSA, Okla., Sept. 26, 2011 /PRNewswire via COMTEX/ --Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced the completion of an amendment to its senior secured credit facility that increased the aggregate amount of share repurchases permitted under the facility. The Company simultaneously announced that the Board of Directors has increased the authorization of the share repurchase program previously announced on February 24, 2011 from $100 million to $400 million.
Under the terms of the amendment, the Company's restricted payment basket for share repurchases has been increased to provide for share repurchases up to $300 million, plus 50 percent of cumulative net income since January 1, 2011...

TULSA, Okla., July 14, 2011 /PRNewswire via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) will announce second quarter 2011 financial results prior to market open on Monday, August 8, 2011. A conference call to review the Company's second quarter 2011 results will be held at 9:00 a.m. CT onMonday, August 8, 2011. Scott Thompson, President and Chief Executive Officer, will lead the call. Also participating will be Cliff Buster, Chief Financial Officer. A live audio webcast of the call will be available on the Company's website, http://www.dtag.com/. Domestic participants should call 888-946-7608 and use the passcode "Dollar Thrifty." The number for international participants is 630-395-0278. Please call in approximately 10 minutes prior to the beginning of the call...

TULSA, Okla. and BELLEVUE, Wash., June 21, 2011 /PRNewswire via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced it has extended its relationship with Expedia, Inc. (NSDQ: EXPE), the world's largest online travel company. Under the long-term agreement, Expedia.com®, Hotwire.com® and Carrentals.com will continue to offer Dollar Rent A Car and Thrifty Car Rental as preferred car rental brands.

"We are delighted to extend our long-term relationship with Expedia, Inc. so that our value-oriented, leisure brands will continue to be available to a vast audience of discerning customers around the world," said Scott Thompson, president and CEO of Dollar Thrifty Automotive Group, Inc. "Dollar Rent A Car and Thrifty Car Rental are leaders in the value car rental space, and Expedia is the world's largest online travel company, making for an ideal match...

TULSA, Okla., June 6, 2011 /PRNewswire via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that its Board of Directors unanimously recommends that Dollar Thrifty shareholders not tender their shares pursuant to Hertz Global Holdings, Inc.'s (NYSE: HTZ) offer to acquire all of the outstanding shares of common stock of Dollar Thrifty for a price of $72.00 per Dollar Thrifty share, consisting of $57.60 in cash and 0.8546 shares of Hertz common stock.

As previously announced, Dollar Thrifty has agreed to cooperate with Hertz in its efforts to pursue antitrust regulatory clearance of Hertz's proposed acquisition of Dollar Thrifty. Dollar Thrifty is also cooperating with Avis Budget Group, Inc. (NASDAQ: CAR) in connection with Avis Budget's efforts to pursue antitrust regulatory clearance of an acquisition of Dollar Thrifty...

TULSA, Okla., May 18, 2011 /PRNewswire via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that its Board of Directors has adopted a Shareholder Rights Plan ("Rights Plan") under which Dollar Thrifty shareholders will receive rights to purchase shares of a new series of preferred stock in certain circumstances. The Rights Plan was adopted to deter any attempt to obtain control of the Company in a manner or on terms that are not in the best interests of the Company and all shareholders.

Scott L. Thompson, President and Chief Executive Officer, said, "We believe it is prudent for our Board of Directors to take this action as a means of ensuring that the Board of Directors, and all shareholders, have a full and fair opportunity to consider any offers to acquire the Company after we have additional clarity on the antitrust regulatory process without the undue influence that may result if one or more holders are permitted to accumulate significant positions in Dollar Thrifty common stock...