, as the coronavirus pandemic brings nearly all travel to a standstill.
People familiar with the matter told the paper that Hertz is working to reduce its debt payments and is in talks on a forbearance agreement that could help it avoid bankruptcy. The situation remains fluid, according to the Journal's sources.Shares of Hertz declined more than 15% in trading Wednesday, as broader indices rose, following The Wall Street Journal's report.
Ryan Brinkman, an analyst at JPMorgan, theorized on April 23 that government assistance could help Hertz remain solvent. "We do think a potentially large amount of cash could be made available to Hertz from the federal government, potentially solving any liquidity concerns, although we are also uncertain with regard to the terms," he said in a note to clients.
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