Thrifty Car Rental.

Thrifty's immediate concern was for our customers, many of whom were stranded far from home after the complete shutdown of all air traffic in the US. We knew there would be instant demand for a lot of one-way rentals. We did everything in our power to help customers with one-way rentals and make sure they were satisfied and would return and do business with us.

After the initial flurry of one-way rental activity, reservations at our airport locations were negatively impacted for several weeks, but we've seen substantial recovery in recent weeks. About 35 percent of our locations are local market stores, so Thrifty was somewhat insulated by the initial decrease in airport traffic compared with others in our industry that rely almost completely on the airlines. Reservations continue to improve, and we've even had a few days where our bookings exceed last year's levels. Thrifty remains a strong and viable industry player.

Regarding one-way rentals, the first thing we did was insure that all of our locations were implementing one-way procedures uniformly. Operationally, we made the decision in a number of airport markets to decrease fleet volumes by as much as 20 percent when we realized airport volumes were likely to be down. In a number of instances, we have since reversed this decision and brought fleet levels back to be consistent with the higher demand. Fortunately, we had the flexibility to make the needed modifications to our fleet.

In terms of security measures, the FAA required a 300-foot setback from US airport terminals and a 55-meter setback in Canada. This may have required us to modify how we serve our customers at some locations, but we've done everything we can to minimize customer inconvenience. There may be more security measures implemented in the future at car rental counters, but we are not sure at this date what those measures may involve.

Thrifty has always worked hard to provide great rates and excellent service to all of our customers. I expect we will be doing that for a very long time to come.