Tremblay-en-France airline company. Net sales break down by activity as follows: - passenger and freight transport (86.2%); - maintenance services (5.3%); - low-cost passenger transport (8.4%); - other (0.1%). Early 2023, the group had a fleet of 522 aircraft. The number of employees was 73,700 people¹².

In a world entangled in health measures that have become seasonal and attentive to its environmental impact, the development of air transport arises acutely when it is known for its stock market performance. Many parameters allow to reject certain tracks which would be too speculative while other factors which one thought minor come to modify the orb of evolution of the group. Among these factors, public health and judicial approaches shed light on what is happening in order to predict what has not yet happened.

In the first place, public health measures are imposed on Tremblay-en-France which can be detrimental to the operation of aircraft and therefore, to the income derived from shares. In this regard, the 2020 crisis has halved the weighting of the title (March 20, 2020 Google sheet above). At the end of 2021, the weighted average was heading towards a plateau twice lower than the results of February 2020. It is possible to deduce that the health crisis is a constraining phenomenon for Tremblay-en-France. The French  State - and to a lesser extent the Netherland State - have fervently seized¹ on the weaknesses of the company by increasing their participation in its capital. So disbursement is not the problem. In addition, Tremblay-en-France signed agreement¹ with Virgin and Delta in February 2020 in order to rationalize its material operating expenses. It emerges that one of the most significant expenditure items remains the payroll which is precisely at the heart of operating problems under pandemic less than P3 stage. The airline is registered in France and than, subject to the local applicable law with regard to its staff. In other words, what on the one hand, the state invests to save the sovereignty of its civil air traffic, it loses in public health and social measures harmful against the deployment of Tremblay-en-France. Thus, low-cost industry seems out of reach in this context for the entity like Hop !. In the short term, the return of niche sectors such as jet charter, less restrictive in sanitation engineering, appears to be conducive to an operational alternative for mass transport such as the late L'Avion. In the health chapter, Tremblay securities seems speculative. This should be compared to the judicial aspect.

Secondly, decisions from the judge are likely to be binding on Tremblay-en-France, its activities and its forecast results. The shareholder deciding not to see a future that he does not want to see come true, inquires about the legal antecedents of the entity before speculating on the stock market. The US supreme court felt only one case denied¹ in 2007 and the publicly accessible US SEC was prolific¹ from 2002 to 2008. As of December 31, 2020, Tremblay-en-France was regularizing¹ ~ 8 M share under the schedule 13G regime. In 2005, a ministerial decree¹ gave effect to a transfer of shares to employees as a result of an authorization to reduce wages. This point supports the principle of interference of costs relating to human resources discussed in the previous chapter by stretching it over more than 15 years. The subject is so sensitive that the courts were seized of the so-called¹ CEO torn shirt molested by employees. Thus, resolving the issue of performance is not only a matter of economics but politics. Even more of law, since the examination of the Concorde crash, the circumstances of which led to the withdrawal of the super-sonic era. Other airlines like American Airlines present less risk for a higher return.

For all these reasons,

Tremblay-en-France remains a middle confidence.