Autohellas – Hertz takes over Cyprus Franchise

On the 1st of June 2005 Autohellas SA took over the Franchise of HERTZ in Cyprus and enters the local market for Rent-a-Car and Fleet Management services.

Its initial priority is the replacement of the fleet from the previous franchisee with the latest car models and the shake up of its operations there with the objective to capture eventually the leading position in that market as it already has in Greece and Bulgaria.

The total investment will reach €2 millions and it is expected to achieve significant synergies with Aegean Airlines an also member of the Vassilakis Group of Companies.

The total investment will reach €2 millions and it is expected to achieve significant synergies with Aegean Airlines an also member of the Vassilakis Group of Companies.

It is noted that since 2003, Autohellas represents Hertz in Bulgaria through the acquisition of Autotechnica Ltd.