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French Travel Agent …after petrol new price

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yesterday, the good years…

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And more And more j’gotj’got

5%5% of discountof discount

yesterday, the good years…

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CCriserise

DDangeranger

CCriserise

OOpportunitépportunité

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Financial guarantees Financial guarantees of travel agencies of travel agencies

for consumer protectionfor consumer protection

3 300 3 300 MembersMembersTotal commitments given by the Total commitments given by the

nominal APST is equal to nominal APST is equal to

1 063 845 2071 063 845 207 US$US$

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Founder of the Founder of the

European protocol withEuropean protocol with

S.C.A.VS.C.A.V. . S.C.A.VS.C.A.V. . A New A New PaymentPayment GuaranteeGuarantee for for

AirlinesAirlines

S.C.A.V.S.C.A.V.For memoryFor memory

S.C.A.V.S.C.A.V.SOCIETE COOPERATIVE DES AGENCES DE VOYAGESSOCIETE COOPERATIVE DES AGENCES DE VOYAGES

A co -operative company of traders is formedbetween the subscribers of the shares making upthe initial capital and any future shareholders .the initial capital and any future shareholders .This company is incorporated in the form of aFrench company with variable capital (sociétéanonyme à capital variable) (“the Company”).

S.C.A.V.S.C.A.V.For memoryFor memory

The benefits of a travel agency when it The benefits of a travel agency when it becomes a member of the becomes a member of the S.C.A.V.S.C.A.V.

The end of its dependence on banks The end of its dependence on banks (credits).(credits).

Minimum contribution .Minimum contribution .

Member of the cooperative.Member of the cooperative.S.C.A.V.S.C.A.V.

S.C.A.V.S.C.A.V.For memoryFor memory

The benefits of The benefits of for airlinesfor airlinesS.C.A.V.S.C.A.V.

Payment for their services Payment for their services is guaranteed.is guaranteed.is guaranteed.is guaranteed.

The maintenance of a distribution The maintenance of a distribution network consisting of VSE/SME,network consisting of VSE/SME,thus avoiding a sales monopoly thus avoiding a sales monopoly by the networks of majors companies.by the networks of majors companies.

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to provide services to the coto provide services to the coto provide services to the coto provide services to the coto provide services to the coto provide services to the coto provide services to the coto provide services to the co--------operator operator operator operator operator operator operator operator shareholders, operators selling tours shareholders, operators selling tours shareholders, operators selling tours shareholders, operators selling tours shareholders, operators selling tours shareholders, operators selling tours shareholders, operators selling tours shareholders, operators selling tours and trips, visand trips, visand trips, visand trips, visand trips, visand trips, visand trips, visand trips, vis--------àààààààà--------vis their suppliers, vis their suppliers, vis their suppliers, vis their suppliers, vis their suppliers, vis their suppliers, vis their suppliers, vis their suppliers, providers of tourist services (carriers, providers of tourist services (carriers, providers of tourist services (carriers, providers of tourist services (carriers, providers of tourist services (carriers, providers of tourist services (carriers, providers of tourist services (carriers, providers of tourist services (carriers, accommodation providers, vehicle accommodation providers, vehicle accommodation providers, vehicle accommodation providers, vehicle accommodation providers, vehicle accommodation providers, vehicle accommodation providers, vehicle accommodation providers, vehicle rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring rental companies etc.) whilst ensuring that these services do not compete that these services do not compete that these services do not compete that these services do not compete that these services do not compete that these services do not compete that these services do not compete that these services do not compete with services that are already with services that are already with services that are already with services that are already with services that are already with services that are already with services that are already with services that are already proposed by other structures or proposed by other structures or proposed by other structures or proposed by other structures or proposed by other structures or proposed by other structures or proposed by other structures or proposed by other structures or networks to which these operators networks to which these operators networks to which these operators networks to which these operators networks to which these operators networks to which these operators networks to which these operators networks to which these operators may belong;may belong;may belong;may belong;may belong;may belong;may belong;may belong;

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Conclusion Conclusion

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ThankThank youyou for for youryourattentionattention

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