Financial - Turkish Airlines

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(Convenience Translation of Report and Financial Statements Originally Issued in Turkish)TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIESNotes to the Audited Consolidated Financial StatementsFor the Year Ended 31 December 2012(All amounts are expressed in Turkish Lira (TL) unless otherwise stated.)Marketing, sales and distribution expenses are as follows:1 January - 1 January -31 December 2012 31 December 2011Commissions and incentive expenses 522.664.180 379.488.123Personnel expenses 420.259.846 378.990.790Reservation systems expense 301.657.615 220.889.868Advertising expenses 168.783.057 146.497.444Service expenses 36.896.302 34.719.604Rent expenses 32.422.743 22.029.930Membership fees 14.002.199 17.383.173Tax expenses 13.289.888 10.102.599Communication expenses 11.725.347 9.695.660Depreciation expenses 11.161.933 2.165.732Fuel expenses 1.410.455 1.587.250Other 59.094.112 61.309.0831.593.367.677 1.284.859.256General administrative expenses are as follows:1 January - 1 January -31 December 2012 31 December 2011Personnel expenses 230.977.207 216.908.569Depreciation expenses 35.826.796 45.159.478Service expenses 32.794.768 17.524.775Rent expenses 16.016.523 17.283.307Communication expenses 12.326.828 11.717.857Utility expenses 7.438.452 4.781.641Tax expenses 2.909.490 3.281.011Fuel expenses 2.059.057 911.604Insurance expenses 1.299.876 5.752.145Other 32.572.817 41.963.291374.221.814 365.283.67830. EXPENSES ACCORDING TO CATEGORIESExpenses according to categories are explained in Notes 28 and 29.52 TÜRK HAVA YOLLARI ANNUAL REPORT 2012
(Convenience Translation of Report and Financial Statements Originally Issued in Turkish)TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIESNotes to the Audited Consolidated Financial StatementsFor the Year Ended 31 December 2012(All amounts are expressed in Turkish Lira (TL) unless otherwise stated.)31. OTHER OPERATING INCOME / EXPENSESOther operating income/expense consist of the following:1 January - 1 January -31 December 2012 31 December 2011Reversal from provision on asset held-for-sale andimpairment of fixed asset (Note 34) 351.142.323Income from investment assistance (Note 2.7) 62.319.152 43.866.276Insurance, indemnities, penalties income 47.250.258 15.521.333Provisions released 23.183.077 13.653.379Discounts received from maintenance servicessuppliers 16.267.517 25.096.497TGS share premium (Note 16) 14.088.535 11.354.928Tax return regarding finance leases of aircrafts 11.403.048 10.791.868Banks protocol revenue 7.762.460 5.020.748Valuation gain from investment property (Note 17) 6.333.810 -Discount from purchases 5.746.140 4.294.173Rent income 4.318.765 5.493.104Other 50.867.807 25.098.340600.682.892 160.190.6461 January - 1 January -31 December 2012 31 December 2011Provision expense 28.869.760 31.969.921Indemnity and penalty expense 4.942.022 11.775.619Other operating expense 9.854.839 18.094.063Valuation loss from investment property (Note 17) - 5.169.703Real increase in provision on non-current asset held-for-saleand impairment of fixed asset (Note 34) - 329.671.43143.666.621 396.680.73732. FINANCIAL INCOMEFinancial income consists of the following:1 January - 1 January -31 December 2012 31 December 2011Interest income 129.243.516 77.277.018Discount interest income 7.389.996 6.122.349Income from derivative transactions 25.503.133 -Foreign exchange gains - 180.838.910162.136.645 264.238.27753
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