Hertz, Avis Soar as Rental Demand Surges on Airport Chaos

As travelers across the US endure hours-long security lines at airports due to the partial government shutdown, investors are piling into car-rental companies on bets the disruption will push more people onto the road.

Hertz Global Holdings Inc. shares rose about 9.2% on Thursday, while Avis Budget Group Inc. surged 13% for its biggest one-day gain since June, as chaos at US airports drove optimism that more travelers would rent cars instead. Traffic to Hertz’s website jumped about 15% this week as customers looked for ways around air-travel disruptions. The company has been promoting discounts on last-minute reservations and one-way rentals.