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.)Credit risk of financial instruments ReceivablesTrade receivables Other receivables31 December 2011 Related Party Third Party Related Party Third PartyDeposits inBanksDerivativeInstrumentsMaximum credit risk as of balance sheet date (*) 6.969.060 757.806.831 58.082 1.407.239.900 1.639.073.653 80.366.577-The part of maximum risk under guarantee with collateral etc. (**) - 5.168.078 - - - -A. Net book value of financial assets that are - - - - - -neither past due nor impaired 6.969.060 582.012.926 58.082 1.407.239.900 1.639.073.653 80.366.577B. Net book value of financial assets that are renegotiated, - - - - - -if not that will be accepted as past due or impaired - - - - - -C. Net book value of financial assets that are past due but - - - - - -not impaired - 175.793.905 - - - --The part under guarantee with collateral etc. - 2.847.053 - - - -D. Net book value of impaired assets - - - - - --Past due (gross carrying amount) - 79.913.899 - - - --Impairment(-) - (79.913.899) - - - --The part of net value under guarantee with collateral etc. - - - - - --Not past due (gross carrying amount) - - - - - --Impairment (-) - - - - - --The part of net value under guarantee with collateral etc. - - - - - -E.Off-balance sheet items with credit risk - - -- - -(*)The factors that increase in credit reliability such as guarantees received are not considered in the balance.(**)Guarantees consist of the guarantees in cash and letters of guarantee obtained from the customers.The risk of a financial loss for the Group due to failing of one of the parties of the contract to meet its obligations is defined as credit risk.62 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.)The Group’s credit risk is basically related to its receivables. The balance shown in the balance sheet is formed by the net amount after deducting the doubtful receivables arisenfrom the Group management’s forecasts based on its previous experience and current economical conditions. Because there are so many customers, the Group’s credit risk isdispersed and there is not important credit risk concentration.The aging of past due receivables as of 31 December 2012 are as follows:Receivables31 December 2012 Trade Receivables Other Receivables Deposits in BanksDerivativeInstruments Other TotalPast due 1-30 days 183.386.997 - - - - 183.386.997Past due 1-3 months 95.288.491 - - - - 95.288.491Past due 3-12 months 110.229.680 - - - - 110.229.680Past due 1-5 years 191.075 - - - - 191.075Past due more than 5 years - - - - - -Total past due receivables 389.096.243 - - - - 389.096.243The part under guarantee with collateral etc. 3.574.589 - - - - 3.574.589The aging of past due receivables as of 31 December 2011 are as follows:63
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