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Our Factsheet
Growing the business since 1958
In Summary: Day after day, Budget employees and operators at approximately 2,700 locations in more than 120 countries help support our vision, mission and values.
Quick History
Budget Rent A Car was founded by Morris Mirkin in 1958 with a $24,000 investment. The company name was chosen to appeal to the “budget-minded” or “value-conscious” renter. In 1959, in an effort to grow the business, Mirkin appealed to a distant relative, Jules Lederer, president of a Chicago-based manufacturer of writing instruments, for additional financing. Lederer formed a leasing company and leased new vehicles to Mirkin. In 1960, Lederer formed Budget Rent A Car Corporation in Chicago. The company then grew rapidly, both nationally and internationally.
In 1986, Gibbons, Green and van Amerongen Ltd. along with management and selected investors purchased Budget from Transamerica Corp. in a LBO transaction. Budget made an initial public offering of 3.2 million shares in 1987.
In 1992, Budget moved downtown Chicago headquarters to Lisle, Ill.
In April 1997, Budget was bought by Team Rental Group, Budget’s largest franchisee in the United States and changed its name to Budget Group, Inc. Budget Group began trading on the NYSE that year.
In 1997, Budget unveiled “Unlimited Budget” a travel agent loyalty program through which members receive a free Unlimited Budget debit MasterCard card and earn points (dollars) for completed bookings.
In 1998, Budget introduced “Fastbreak,” Budget’s express service with paperless transaction.
In 2002, Budget Group was delisted from the NYSE and sold Budget Rent A Car assets in the United States, Canada, Latin America, Caribbean, Australia and New Zealand to Cendant Corporation. Other worldwide assets were sold to Avis Europe, Plc. Later, Cendant moved Budget headquarters from Lisle, Ill. to Parsippany, N.J.
In 2006, Cendant Corporation separated into four independent companies: Realogy, Wyndham Worldwide, Travelport and Avis Budget Group, Inc. As a result, Budget Rent A Car System, Inc. is now a subsidiary of Avis Budget Group.
In 2011, Avis Budget Group, Inc. acquired Avis Europe plc. The transaction re-unites Avis Budget Group with its licensee for Europe, the Middle East, Africa and Asia.
About this location:
Location
Erie Intl Airport
Additional Travel Information
Make your stay in Erie, Pennsylvania, as hassle-free as possible by booking one of Budget’s Erie International Airport rental cars. All airport car rentals at Erie International Airport are located right in the terminal building, so you can go directly to your ERI car rental without having to wait for a shuttle.
Erie’s location on the shoreline of Lake Erie means the city and surrounding area have lots to offer outdoor adventure seekers and nature lovers alike. Find a spot to enjoy the sun and relax on one of the many beaches along the Presque Isle State Park peninsula, or head out on a Great Lakes fishing trip. Those who prefer to stay on dry land can hike or bike a number of paths that run back and forth through the park.
Art lovers should head downtown to the Erie Art Museum, and younger art enthusiasts will enjoy the Children’s Museum, which has a number of interactive and educational exhibits. Military history buffs will enjoy the Erie Maritime Museum and US Brig Niagara, a 19th-century warship.
Downtown Erie is also a great shopping destination and there are lots of restaurants to choose from. Try a Smith’s hot dog, a local favorite, or take advantage of the city’s proximity to the lake and dine on freshly caught perch. Budget Car Rental has a wide selection of small compact cars that are great for downtown parking.
Budget’s Erie airport car rentals get you where you need to go in Erie in comfort and in style. And don’t forget to sign up for the Fastbreak program.
Additional Location Information
Select from a wide variety of vehicles at Budget Erie Intl Airport, check out the latest Erie Intl Airport Car Rental Deals, and be confident that you are getting the best rental rates in Pennsylvania !
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