2003 Annual Report - Turkish Airlines

FOREIGN CURRENCY TRANSACTIONS(ACCORDING TO UNIFORM ACCOUNTING SYSTEM)Out of the Company’s total revenue of TL 2,696,906,852 million in 2003, TL 2,123,818,935 million portion was in, or convertible toforeign currency.Foreign exchange expenses of Turkish Airlines during 2003 amounted to TL 1,285,228,092 million.Thus, the net foreign currency of contribution of Turkish Airlines to Turkish economy has been TL 838,590,843 million. This correspondsto US Dollar 570.2 in terms of funds in or convertible to foreign currency.The following table indicates these figures in both Turkish Lira and US Dollar terms (according to average exchange rates).Turkish Lira (Million)NET TLYEARS REVENUES EXPENSES CONTRIBUTION1999 473,154.509 354,239,739 118,914,7702000 845,926,702 600,427,871 245,498,8312001 1,647,000,952 1,265,809,495 381,191,4572002 2,145,798,051 1,313,954,722 831,843,3292003 2,123,818,935 1,285,228,092 838,590,843US Dollar (Full)NET FCYEARS REVENUES EXPENSES CONTRIBUTION1999 1,133,401,035 831,683,746 301,717,2892000 1,356,317,658 949,517,917 406,799,7412001 1,344,595,660 1,025,415,599 319,180,0612002 1,297,434,193 861,876,698 435,557,4952003 1,429,193,108 858,955,360 570,237,7481,6001,400FOREIGN CURRENCY REVENUES AND EXPENSES (US Dollar Millions)1,2001,0008006004002000RevenuesExpensesDifference19992000 2001 2002 2003Every year starting from the year 1995, Turkish Airlines has been presented the Best Exporter Award by Istanbul Chamber of Commerce.Awards for the year 2003 have not been announced yet.Foreign currency revenues in 2003 amounted to US Dollar 1,018 million.The following table indicates the foreign currency revenues of Turkish Airlines since the year 1994:FC REVENUE AWARD FC INFLOWYEAR YEAR (US$ Millions) RANKING AWARD1994 1995 676 1. GOLD PLAQUE1995 1996 707 1. GOLD PLAQUE1996 1997 816 1. GOLD PLAQUE1997 1998 820 1. GOLD PLAQUE1998 1999 806 1. GOLD PLAQUE1999 2000 975 1. GOLD PLAQUE2000 2001 938 1. GOLD PLAQUE2001 2002 901 1. GOLD PLAQUE2002 2003 858 2. GOLD PLAQUE38