2003 Annual Report - Turkish Airlines

Legal StatusTurkish Airlines was established on May 20, 1933, inAnkara by Law No. 2186, as a department of theMinistry of Defense as the State Airlines Administration; in1935, it was assigned to the Ministry of Public Works. In1938, this entity was renamed the General Directorate ofState Airlines. From 1939 onward, it operated as adepartment of the Ministry of Transportation.In 1955, it was restructured by Law No. 6623 as aprivate corporation to be managed and operated underprivate law. From then on, it operated as Turkish AirlinesInc.As published in the Official Gazette No. 18570 onNovember 9, 1984, Turkish Airlines was classified as aState Economic Enterprise by Statutory Decree No. 233concerning Certain State Institutions and Enterprises.The Turkish Airlines Corporation was redefined as a StateEconomic Enterprise under the jurisdiction of thePrivatization Administration according to Article 35 ofLaw No. 4046 concerning the Regulation of PrivatizationProcedures and the Amendment of Certain StatutoryDecrees, published in the Official Gazette No. 22124,dated November 27, 1994. According to Article 20/aof the aforementioned law the Corporation’s Articles ofAssociation were amended with the approval of thePrivatization Administration dated December 5, 1996and further amendments were made and approved byDecision No. 33/953, dated July 5, 2002, by theCapital Markets Board and re-approved by Decision No.1006, dated November 8, 2002, by the PrivatizationAdministration. These amendments were put into effectfollowing the approval of the Extraordinary GeneralAssembly held on January 17, 2003.According to Council of Ministers’ Decree No. 90/822,it was included among the State Economic Enterprises tobe privatized by Law No. 3291, and published in onthe Official Gazette dated September 25, 1990, No.20646. The Corporation’s new Articles of Associationwere approved by the Supreme Planning Council onOctober 30, 1990 by Decision No. 90/18, wherebythe Corporation was registered with the Trade Register onNovember 5, 1990.2