2003 Annual Report - Turkish Airlines

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INFORMATION TECHNOLOGYPROJECTSProjects realized in 2003 by the EDP Department, thegroup that provides all the data processing systems forTurkish Airlines, are explained in detail within the sectionsof this Annual Report titled; Commercial Developments,Cargo and Services. One of these projects, the electronicticketing project, has brought the latest in ticketingtechnology to Turkish Airlines. Due to Reservation andDeparture Control (DCS) projects, the number of TurkishAirlines bureaus connected online has increased to 22 inTurkey and 35 abroad. Moreover, Turkish Airlines nowserves 21 local and 42 international airports and 485local and 249 international sales agents connectedonline.Since the development of the TOD, it is now possible topurchase tickets over the Internet. This system, developedat the Data Processing Center, is being used in Turkeyand abroad.The software developed for the Miles&Miles projectallowed Turkish Airlines to offer passengers a variety ofservices, directly or through the Internet. Newapplications, such as cargo schedule information, airwaybill search and domestic fee information were put to usewith the aid of Internet technology that was installed forcargo projects. Other web applications enable the flightstaff to acquire information regarding their personal flightschedules; it also permits the Civil Aviation GeneralDirectorate to access and check Turkish Airlines’ flightinformation from the Internet. Seminars have been held tointroduce potential clients to Turkish Airlines’ incomeevaluation program, TRACES. To date, US$ 76,500worth of software related services have been sold toIcelandic Airlines.Again this year, preparations have started for thecomputing infrastructure of the Call Center, anotherproject that is of crucial importance to Turkish Airlines.Turkish Airlines is the local distributor for GALILEO, acompany that provides airline, hotel and car reservationsand ticketing software and systems to travel agentsaround the world. With the development of a project ledby the EDP Department, Turkish Airlines has increased thenumber of travel agent locations that are now utilizing theGALILEO system to 187 and has achieveda revenue ofUS$ 1.8 million.34
FINANCIAL REVIEWThe comparative operation results of Turkish Airlines for the years 2002 and 2003 are as follows:31 December 2003 31 December 2002 31 December 2003 31 December 2002Profit/Loss (TL Millions) (UAS)* (UAS)* (IFRS)** (IFRS)**Operating Income 2,390,842,395 2,171,619,433 2,499,793,339 2,950,540,284Operating Expenses (2,208,871,203) (2,152,412,536) (2,174,674,745) (2,567,609,822)Operating Profit/Loss 181,971,192 19,206,897 325,118,594 382,930,462Other Operating Income 306,064,457 220,560,370 89,948,593 43,699,711Other Operating Expenses (233,302,864) (139,716,351) (10,681,740) (8,150,546)Fin./Mon. Gain/Pre-tax Prof./Loss 254,732,785 100,050,916 404,385,447 418,479,627Financial Income/(Exp.) (Net) (2,223,214) (249,208) 259,735,872 (438,861,860)Monetary Gain/(Loss) - - (376,874,468) 479,134,761Income Before Taxation 252,509,571 99,801,708 287,246,851 458,752,528Provisions for Taxes (78,990,691) (32,398,092) (73,386,988) (111,237,890)Net Profit/Loss 173,518,880 67,403,616 213,859,863 347,514,638Profit/Loss per Share 992 385 1,222 1,986On 15 November 2003, Capital Markets Board ("CMB") published Communiqué No: 25 of Series XI, "Communiqué on Capital MarketAccounting Standards". The Communiqué is applicable to the first interim financial statements ending after 1 January 2005 and is effectivefrom the date of publishing. However, companies may choose to adopt Communique No: 25 of Series XI, for years or interim periodsending on or after 31 December 2003.As explained in the first temporary clause of Article 34 of the foresaid Communiqué - General Provisions related to financial statementsobligations, preparation and public announcement of financial statements in accordance with IFRS until the beginning of that period inwhich application Communiqué No: 25 of Series XI becomes enforceable, is counted for fulfillment of provisions of preparation offinancial statements and public announcement in accordance with that Communiqué. Consequently, the Company prepared and publiclyannounced its financial statements as of 31 December 2003 in accordance with IFRS.The companies which choose to apply Communiqué No: 25 of Series XI or IFRS as of 31 December 2003 are not required to report inaccordance with CMB Communiqué No.1 of Series XI “Rules and Principles Relating to Financial Statements and Reports in CapitalMarkets”, Communiqué No: 20 of Series XI “Rules and Principles Relating to Adjustment of Financial Statements in HyperinflationaryPeriods” and Communiqué No: 21 of Series XI “Rules and Principles Relating to Consolidated Financial Statements and Accounting ForEquity Participations”.(*) According to Uniform Accounting System(**) According to International Financial Reporting Standards35
Page 1 and 2: T o w a r d n e w h o r i z o n sAn
Page 3 and 4: Turkish Airlines’ Mission Stateme
Page 5 and 6: Board of Directors(as of December 3
Page 7 and 8: The fact that the United States was
Page 9 and 10: Financial FiguresProfit/Loss (TL mi
Page 11: 1994-2003 Revenue Passengers1994-20
Page 14 and 15: By the end of the year, the number
Page 16 and 17: In 2003, a total of 10.4 million pa
Page 18 and 19: While scheduled domestic flightcapa
Page 20 and 21: In an effort to meet cargo demands
Page 23 and 24: We have continued to add newdestina
Page 25 and 26: As part of the Regional Aviation Pr
Page 29 and 30: HUMAN RESOURCES1999-2003 Developmen
Page 32 and 33: 30Among the services accessible via
Page 34 and 35: Miles&Miles members who purchased t
Page 38 and 39: CAPITAL REVIEWTurkish Airlines adop
Page 40 and 41: FOREIGN CURRENCY TRANSACTIONS(ACCOR
Page 42 and 43: TURKISH AIRLINES INC.DETAILED BALAN
Page 48 and 49: TURKISH AIRLINES INC.FINANCIAL STAT
Page 50 and 51: TURKISH AIRLINES INC.FINANCIAL STAT
Page 52 and 53: TURKISH AIRLINES INC.BALANCE SHEETS
Page 54 and 55: TURKISH AIRLINES INC.STATEMENTS OF
Page 56 and 57: TURKISH AIRLINES INC.STATEMENTS OF
Page 58 and 59: TURKISH AIRLINES INC.NOTES TO THE F
Page 78 and 79: TERMS AND ABBREVIATIONSAvailable Se
Page 80 and 81: ASIAAlmatyAmmanAshkhabadBahrainBang
Page 82: Our FleetA340-300Number of Aircraft

2003 Annual Report - Turkish Airlines

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